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Auction Purchaser Must Exercise Complete Caution In Checking Dues And Liabilities Of Property, Bank Not Liable For Undisclosed Liabilities: Allahabad High Court
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Auction Purchaser Must Exercise Complete Caution In Checking Dues And Liabilities Of Property, Bank Not Liable For Undisclosed Liabilities: Allahabad High Court
The Allahabad High Court has held that it is the duty of the auction purchaser to exercise complete caution in checking dues and liabilities of the auctioned property and bank can't be made responsible for any undisclosed liability. The Court was considering a Writ Petition seeking directions against the State in relation to the water supply problem, which was discovered post-sale in respect of a property purchased through SARFAESI e-auction. Th…
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