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Supreme Court: Borrower's right of redemption available only till notice for sale of mortgaged asset is published under SARFAESI Act
The Daily Guardian
|January 09, 2025
The bench noted that the bank had granted ample opportunities to the borrower to redeem the mortgage by clearing the dues.
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The Supreme Court in the case Sanjay Sharma v. Kotak Mahindra Bank Ltd observed and has stated that the right of a borrower to redeem the secured asset can be exercised only till a notice for the sale of the mortgaged property is published in terms of Rule 9(1) of the Security Interest (Enforcement) Rules, 2002.
This story is from the January 09, 2025 edition of The Daily Guardian.
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