M/S SREE JAYALAKSHMI TEXTILES vs. M/S INTERNATIONAL ASSET RECONSTRUCTION
WP/22348/2015HC Karnataka15 Dec 2015
Bench: The Date Fixed For Sale Of Transfer & In Such Event The Secured Asset Shall Not Be Sold & That Once The Auction Sale Process Is Commenced & The Property Is Auctioned & Sold On The Date Fixed For Sale & The Sale In Favour Of The Highest Bidder Is Confirmed & 25%
Section 13(8)
69A of the Transfer of Property Act, 1882 (4 of
1882), any security interest created in favour of any
secured creditor may be enforced, without the intervention
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of court or tribunal, by such creditor in accordance with
the provisions of this Act.
(2) Where any borrower, who is under a liability to
a secured creditor under a security agreement
