In Brief
The Supreme Court addressed competing claims over a residential property sold at a bank auction in 2004 but never delivered to the purchaser, as the original owner remained in possession. The bank had accepted settlement of its dues in 2013 from the owner's company. Invoking principles of equity, the Court allowed the original owner to continue in possession subject to a pending specific performance suit, while directing that the auction sale proceeds (₹32.50 lakhs) held in deposit be returned to the auction purchaser with 9% annual interest, balancing fairness to both parties.
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