In Brief
A cooperative bank sought to recover substantial dues from the petitioner by selling mortgaged properties under the Securitisation Act. The petitioner challenged the bank's jurisdiction and lacked resources to deposit funds. The Supreme Court declined to fully adjudicate the jurisdiction issue but, finding it in both parties' interests to conclude recovery expeditiously, directed the bank to first sell the lower-value properties (the first two of four items) and only proceed to the highest-value property if necessary, while allowing the petitioner notice and opportunity to clear any remaining balance. The Court also barred further litigation regarding sale procedures without its express permission to prevent litigation from hindering the sale process.
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