Case Law Analysis
|Andhra Pradesh High Court
SARFAESI Act | Auction Purchaser Entitled to Refund with 9% Interest for Defective Title : Andhra Pradesh HC
Andhra Pradesh High Court rules that banks must refund auction purchasers the bid amount with 9% interest if the property title is defective, setting aside the sale certificate. The judgment reinforces banks' liability under SARFAESI Act to ensure clear title before auction, protecting purchasers from financial loss due to title disputes.