Supreme Court of India

Deenadayal Nagari Sahakari Bank Ltd. & Another v. Munjaji and Others

Neutral citation
Reported as [2022] 8 S.C.R. 948
Bench M. R. Shah and B. V. Nagarathna JJ.
Decided 16 February 2022

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

In view of the above discussion and for the reasons stat ed above, the present appeals succeed.

Judgment, page 20

From the headnote

Maharashtra Co-operative Societies Act, 1960: s.154 – Auction – Respondent no.1-borrower borrowed loan from two banks and as a security mortgaged four properties – Default in payment – Both the banks initiated separate recovery proceedings – ppellant- bank published proclamation in the daily newspaper and thereafter, tendered a notice to sell the mortgaged properties – Appellant- auction purchaser was found to be the highest bidde r – Sale certificate was issued in favour of the auction pur chaser on 17.01.2011 and the sale deed was also executed on 1 9.01.2011 – No further steps were taken

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