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Conditions to challenge auction sale
If a debtor whose property has been auctioned by a bank wants to set aside the sale, it is not enough to show that there were irregularities or fraud in the auction proceedings. She must also prove that the irregularities in the conduct of the auction resulted in substantial harm to her interests, the Supreme Court stated last week in its judgment in the case, Chilamkurti Bala vs Samanthapudi Vijaya. In this case, State Bank of India auctioned the property of the debtor following the procedure. After the sale, the owner moved the executing court
