Bank Property Auction Legal Advice

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asked Jun 7, 2015 in Property Law by Raj

I had participated in a bank auction recently and im the successful bidder of the property. As said, I had submitted 25% on the date of auction after declared as successful bidder. Remaining 75% i paid with in 10 days. Now the actual owner filed a case in DRT challenging the auction. Can you please guide me whether the DRT will be in favor of the actual owner or give any stipulated time to pay the amount assuming the auction process was conducted fair & in correct way?

1 Answer

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answered Jun 19, 2015 by Bharat Sinha Experts
DRT may not be able to give judgement in favour of old owner if bank have completed all the formalities before auction. If not then you will get back you money with interest from bank.
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