paragraph 19, also on
waiver in context of rule 9(1) in Security Interest
(Enforcement) Rules, 2002.
iii) State of Himachal Pradesh vs. Rajesh Chander ... considered was, inter alia, rule 9(1) in Security Interest (Enforcement) Rules,
2002. Rule 9(1) states that no sale of immovable property shall take
Secured Asset through e-Auction
under Rule 9(1) of the Security Interest (Enforcement) Rules, 2002, was
published in „The Mail Today‟ newspaper, scheduling ... taken us through Rule 9(3) and (4) of
Security Interest (Enforcement) Rules, 2002 to argue that under the
applicable Rules, there is no prescription
financial Institutions will have to follow Rule 9(1) of the Security
Interest (Enforcement) Rules, 2002 in its letter and spirit, for sale ... writing
9. Rule 9 of the Security Interest (Enforcement) Rules, 2002 is
extracted hereunder:
W.A.NO.2570 OF 2019 14
"9. Time
auction and whether, mandatory requirement in Rule 9(1) of the Security Interest (Enforcement) Rules, 2002, has to be followed, we deem ... Security Interest (Enforcement) Rules, 2002, states that before effecting sale of the immovable property referred to in sub-rule (1) of rule 9, the authorised
comply with the sub-rule (1) of Rule 9 of the Security
Interest (Enforcement) Rules, 2002 which provides that the
authorized officer shall serve, affix ... 2002 read with Rule 8 (5) of the Security
Interest (Enforcement) Rules, 2002. That Rule 8 (6) of the
Security Interest (Enforcement) Rules, 2002, mandates
borrower in terms of sub Rule 9(1) of the Security Interest (Enforcement) Rules, 2002. The judgment of the Privy Council reported ... thirty days, which is in contravention of Rule 9(1) of the Security Interest (Enforcement) Rules, 2002 and for that reason, the sale is liable
notice of sale
under Rule 8 (6) read with Rule 9 (1) of the Security Interest
(Enforcement) Rules, 2002, to the Corporate Debtor.
06.11.2024 Impugned ... notice of sale under Rule 8 (6) read
with Rule 9 (1) of the Security Interest (Enforcement) Rules, 2002, in
furtherance of the SARFAESI proceedings
blatant breach of Rule 8(6) and Rule 9(1) of the Security
Interest (Enforcement) Rules, 2002 (hereinafter referred to
as ‘the said Rules ... 1,
the learned Senior Counsel submits that if the sale does not
take place pursuant to a notice issued under Rules 8 and 9
from this, by virtue of subrule (9) of Rule 9 of the Security
Interest (Enforcement) Rules, 2002, the statutory obligation on the
part ... immovable
secured assets is prescribed under Rules 8 and 9(1) of the Security
Interest (Enforcement) Rules, 2002. It has further been held that
twin
Rule 8(1) and Rule 8(2) of the SARFEASI Rules were complied.
7. It is submitted that since Rule 8(1) of the SARFEASI ... procedures mentioned in Rule 8(1) & Rule 8(2) of the Security Interest (Enforcement) Rules 2002 mandatory?
9. Section 13(1
