Setting Aside of Auction Sale Under The RDB Act: A Dictate Steered by Prudence

Significantly, though, the Tribunals/ DRTs in the exercise of their jurisdiction under Section 30 of RDB Act are well within their right to confirm, modify or set aside the order made by the Recovery Officer in exercise of his powers under Sections 25 to 28 of the said enactment, however, it is trite law that the rights accrued upon a bona fide third party auction sale purchaser cannot be trampled in the process.Significantly, though, the Tribunals/ DRTs in the exercise of their jurisdiction under Section 30 of RDB Act are well within their right to confirm, modify or set aside the order made by the Recovery Officer in exercise of his powers under Sections 25 to 28 of the said enactment, however, it is trite law that the rights accrued upon a bona fide third party auction sale purchaser cannot be trampled in the process.taxmann.com Latest ArticlesRead More

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