Orissa High Court Declares Financial Corporation’s Auction Illegal: Judgment Analysis on Legality of Auctioning Mortgaged Property Under Section 29 of the SFC Act, 1951 – Reinforcing Protection of Bona Fide Purchasers and Limiting Scope of Section 29
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Orissa High Court Declares Financial Corporation’s Auction Illegal: Judgment Analysis on Legality of Auctioning Mortgaged Property Under Section 29 of the SFC Act, 1951 – Reinforcing Protection of Bona Fide Purchasers and Limiting Scope of Section 29

Court’s Decision: The court ruled that the auction proceedings initiated by the financial corporation under Section 29 of the State Financial Corporations Act, 1951 (SFC Act) were illegal and without…