Smt. Anita Pandey and Another v. the Debts Recovery Appellate Tribunal and 5 Others
Case brief
What is this about?
In a writ petition challenging DRAT and DRT orders dismissing appeals against bank proceeds, the Court quashed the auction sale due to procedural violations regarding reserve price fixation and defective notice. The Court granted the borrowers two months to clear dues, after which property would revert.
What did the court decide?
Auction sale set aside; two months granted to petitioners to discharge dues; property to revert upon payment; auction purchaser to be refunded with interest.