S Balu v. Sicom Limited
Case brief
What is this about?
The Tribunal dismissed an application by an unsuccessful bidder challenging an e-auction closure due to lack of auto-extension. The court found the auction complied with specific terms accepted by the applicant and upheld the declaration of the highest bidder.
What did the court decide?
Application dismissed; no costs awarded; pending IAs and memos disposed of.
What the court decided
SA No.561/2025
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI
DATED THIS 19th DAY OF JANUARY, 2026
PRESENT: SEEMA SINHA
[PR. DISTRICT & SESSIONS JUDGE - Retd]
PRESIDING OFFICER
SA No. 561/2025
S. Balu, 3/279, Navakkadu, Mampalayam Road, Pallipalayam Agraharam,
Namakkal – 638 008. --- Petitioner/Applicant
-Vs-
- SICOM Ltd., Represented by its Authorized Officer, Solitaire Corporate Park, Building No. 4, 6th Floor, Guruhargovindji Road, Chakala, Andheri East, Mumbai – 400 093. --- 1st Defendant FI
Issues for consideration
3 issues framed by the court
Whether an unsuccessful bidder in an e-auction under the SARFAESI Act has the locus standi to challenge the auction proceedings under Section 17.
Whether theclosure of the e-auction without auto-extension amounted to procedural irregularity given the prior acceptance of the terms and conditions.
Whether the Declaration of the 3rd Defendant as the successful bidder was valid in the face of the applicant’s claims of suppression and fraud.
Parties & counsel
- applicant
S. Balu
Coram
Seema Sinha
Case details
As recorded by the court registry
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