Regency Equifin Pvt. Ltd. versus Bank of Baroda

The Appellant is a third-party auction purchaser of the secured asset and the Applicant in S.A. No. 189 of 2021 on the files of the Debts Recovery Tribunal (D.R.T.), Nagpur, who has come up on appeal impugning the order of the Ld. Presiding Officer in I.A. No. 2001 of 2022 dated 15.11.2022 wherein the prayer to proceed with the subsequent auction sale of the property was declined to be stalled as requested.

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The Respondent Bank has appeared and filed a reply stating that although the subsequent sale was confirmed, the auction purchaser did not pay the balance amount in time resulting in forfeiture of the initial deposit. Under the circumstances, the Appeal challenging the auction sale which did not fructify has now become infructuous.

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Hence, the Appeal is disposed of with a direction to the D.R.T., Nagpur to dispose of the S. A. No. 189 of 2021 as expeditiously as possible, at any rate, within a period of two months of receipt of the copy of this order. The contentions of the parties are all kept open to be decided in the S.A.

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mks-1

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Regency Equifin Pvt. Ltd. v. Bank of Baroda

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Regency Equifin Pvt. Ltd. v. Bank of Baroda

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