Mr. Justice Saurabh Shyam Shamshery

Handing over possession of an auction property requires a procedure to be followed, a possession memo duly signed by representative of bank, auction purchaser and witnesses has to be prepared, handover possession cannot be an empty formality – M/s Shree Bhoomi Food Beverages Pvt. Ltd. Vs. Debts Recovers Appellate Tribunal and 4 Others – Allahabad High Court

Hon’ble High Court held that (i) The possession handling over document is not signed by any officer of bank, bank seal is also absent. Name of authorized officer is also not disclosed. The alleged authorized representative of auction purchaser has also not disclosed his name. There is no document on record how he was appointed as authorized representative of auction purchaser as well as there are no witnesses to the process of handing over of auction property.
(ii) The possession handling over document by any legal acumen could not be considered to be a ‘possession memo’ as required by due procedure, therefore, any videography of such act would have no consequence.
(iii) Handing over possession of an auction property requires a procedure to be allowed. A possession memo duly signed by representative of bank, auction purchaser and witnesses has to be prepared. To handover possession cannot be an empty formality.

Handing over possession of an auction property requires a procedure to be followed, a possession memo duly signed by representative of bank, auction purchaser and witnesses has to be prepared, handover possession cannot be an empty formality – M/s Shree Bhoomi Food Beverages Pvt. Ltd. Vs. Debts Recovers Appellate Tribunal and 4 Others – Allahabad High Court Read Post »

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