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…
February 22, 2025