The Applicants filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to declare the auction sale of mortgaged property by Bank of Baroda as illegal and fraudulent, to compensate the Corporate Debtor, and to protect the mortgaged property.
The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to declare the auction sale conducted by Bank of Baroda as void.
The applicants sought directions to protect the Corporate Debtor's assets and a status quo order on the property.
The Corporate Debtor is under Corporate Insolvency Resolution Process (CIRP) vide order dated 24.03.2025.
The Corporate Debtor and Applicants availed credit facilities from Bank of Baroda.
The property in question was owned by Applicant No. 5, Sheela Bhatnagar, and was mortgaged to secure the credit facilities.
The auction sale was challenged by the Applicants and the Corporate Debtor in a Securitisation Application before the Debt Recovery Tribunal (DRT), Jabalpur, which was dismissed.
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Application filed by the Applicants under…
Auction sale conducted…
The Applicants filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to declare the auction sale of mortgaged property by Bank of Baroda as illegal and fraudulent, to compensate the Corporate Debtor, and to protect the mortgaged property.
The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to declare the auction sale conducted by Bank of Baroda as void.
The applicants sought directions to protect the Corporate Debtor's assets and a status quo order on the property.
The Corporate Debtor is under Corporate Insolvency Resolution Process (CIRP) vide order dated 24.03.2025.
The Corporate Debtor and Applicants availed credit facilities from Bank of Baroda.
The property in question was owned by Applicant No. 5, Sheela Bhatnagar, and was mortgaged to secure the credit facilities.
The auction sale was challenged by the Applicants and the Corporate Debtor in a Securitisation Application before the Debt Recovery Tribunal (DRT), Jabalpur, which was dismissed.
…Application filed by the Applicants under…
Auction sale conducted…