In Brief
The appellants, borrowers from Jammu and Kashmir Bank, challenged the Bank's sale of mortgaged land through private sale, arguing the sale price was below the reserved amount and the land area handed over exceeded what was mortgaged. The Supreme Court held that after the Bank's public auction process failed in 2004, it validly resorted to private sale as an alternative. Since the appellants had been given repeated opportunities to pay outstanding dues but failed, they could not challenge the sale. The Court dismissed the appeal but directed that only the mortgaged portion (550 marlas) be handed over to the purchasers after proper demarcation."
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