The Supreme Court set aside a confirmed SARFAESI auction sale sixteen years on, holding that the balance-deposit timeline in Rule 9 of the Security Interest (Enforcement) Rules, 2002 is mandatory and goes to the root of the sale's validity. A digest of the facts, the holding, and what it means for auction purchasers and the heirs of a deceased guarantor.
The Delhi High Court held that protection of possession under Section 53A of the Transfer of Property Act 1882 can be claimed only on a registered agreement to sell, and that persons who entered as tenants cannot convert themselves into owners on an unregistered agreement. A digest of the facts, the holding, and why registration is now decisive.