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Supreme Court of India 2020-04-24 partly_allowed

Tripower Enterprises (Private) Limited vs State Bank of India & Ors

Bench: 2 — A.M. Khanwilkar

In Brief

An auction purchaser sought to obtain original title documents (Exhibits A110 to A114) from the DRT that had been deposited as evidence in a pending original application. The guarantor of the loan resisted, claiming the mortgage was invalid. The Court held the auction sale was concluded and the sale certificate issued to the purchaser; therefore, the Bank must deliver the documents to complete the sale. The guarantor, having admitted the mortgage on affidavit and offered to pay, could not repeatedly challenge it. However, documents relating to land (Paimash No. 722/4, 1.80 acres) subject to a final court decree in favor of a third party were excluded from release until that party's rights are judicially determined. Appeal partly allowed.

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Debt Recovery Securitisation Recovery Tribunal Title Documents Auction Sales Mortgage Validity Procedural Law

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