Supreme Court:- Under SARFAESI Act | Borrowers' Redemption Right Not Lost By Auction Sale If Balance Consideration Was Paid After Time limit.

The Court allowed the borrower to redeem the property despite the issuance of sale certificate, as the balance was paid by the auction purchaser belatedly.
The Supreme Court has observed that under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, where an auction purchaser fails to deposit the balance sale consideration within time, the sale remains incomplete and does not attain finality; consequently, the borrower cannot be divested of their property if they repay the amount.