Case Law Analysis
|Supreme Court of India
Section 29 SFC Act | Auction Sale Under Financial Corporation's Statutory Power Must Be Fair but Not Subject to Dilatory Litigation : SC
The Supreme Court ruled that while financial corporations must exercise their statutory power to auction properties fairly under Section 29 of the State Financial Corporations Act, borrowers cannot obstruct recovery through frivolous or delayed litigation. The auction sale is final unless vitiated by fraud or material irregularity, and persistent defaulters forfeit equitable relief.