In Brief
Union Bank of India initiated SARFAESI proceedings against defaulting borrowers and auctioned a property seized as security. Sunview Assets won the auction at Rs. 65.62 crores but failed to make timely payment in instalments. The auction purchaser sought directions to issue a sale certificate through a Miscellaneous Application in the disposed appeal. The Supreme Court dismissed the application, holding that such Miscellaneous Applications are not maintainable in disposed appeals as they seek substantive relief. The Court ruled that statutory time limits under the SARFAESI Rules cannot be extended beyond their prescribed scope, and discouraged the practice of filing repeated applications after judgment to circumvent compliance with judicial orders.
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