Telangana HC Backs SBI in Rs 83 Lakh Property Auction Dispute
6 months ago

Telangana HC Backs SBI in Rs 83 Lakh Property Auction Dispute

Deccan Chronicle  

Hyderabad: The Telangana High Court on Tuesday upheld the action of the State Bank of India in forfeiting Rs 83 lakh of an auction purchaser. A division bench comprising Chief Justice Alok Aradhe and Justice Anil Kumar was dealing with writ plea filed by Rohit Bansal, a businessman and successful bidder at an auction of a property carried out by the SBI under the Sarfaesi Act. After depositing 25 per cent of the bid amount forthwith in March 2020, the petitioner sought extension of time but did not make subsequent payments on the ground that the property was involved in a civil litigation. Dismissing the writ petition, Chief Justice Aradhe said that only in extraordinary circumstances would the court be inclined to interfere in such forfeiture.

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