Setback to IOB: Madras HC rules Bank cannot file Writ Petition to Protect Interest of Third Party, who Knowingly Purchased Property having Encumbrance [Read Order]

Setback - IOB-Madras- HC - Bank - Writ -Petition - Protect- Interest - Third- Party- Property - Encumbrance-TAXSCAN

In a major set back to the Indian Overseas Bank (IOB), the Madras High Court ruled that the Bank cannot file writ petition to protect interest of third party, who knowingly purchased property having encumbrance. The petitioner-Bank, Indian Overseas Bank, had invoked Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) actions…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

Related Stories