SARFAESI: No refund to auction-purchaser alleging misdescription of flat area in notice as he didn't inspect flat
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[2014] 52 taxmann.com 435 (Calcutta)
HIGH COURT OF CALCUTTA
Rajat Fiscal Services (P.) Ltd.
v.
Oriental Bank of Commerce
DEBANGSU BASAK, J.
W.P. NO.769 OF 2014
NOVEMBER 14, 2014
Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Enforcement of security interest - Whether where petitioner purchased a flat in a public auction by bank on 'as is where is basis', petitioner could not be allowed to claim refund on basis of alleged misdescription of area of flat in sale notice when it had not exercised its option to inspect flat and satisfy itself as to area available and other aspects - Held, yes [Para 8]
■■■
[2014] 52 taxmann.com 435 (Calcutta)
HIGH COURT OF CALCUTTA
Rajat Fiscal Services (P.) Ltd.
v.
Oriental Bank of Commerce
DEBANGSU BASAK, J.
W.P. NO.769 OF 2014
NOVEMBER 14, 2014
Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Enforcement of security interest - Whether where petitioner purchased a flat in a public auction by bank on 'as is where is basis', petitioner could not be allowed to claim refund on basis of alleged misdescription of area of flat in sale notice when it had not exercised its option to inspect flat and satisfy itself as to area available and other aspects - Held, yes [Para 8]
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