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Can a SARFAESI auction sale stand if it violates multiple mandatory procedural safeguards?
Sterling Holiday Resorts Limited vs M/s P.M. Associates & Ors.
The Supreme Court set aside the SARFAESI auction of a hill resort because the process violated multiple mandatory statutory safeguards, including a DRAT restraint order, the 30-day notice period, and issuance of the sale certificate to a non-bidder.
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