PoliticsSupreme Court Cancels Ooty Resort Auction Over SARFAESI Act Violations
The Supreme Court ruled that an auction under the SARFAESI Act is illegal if statutory procedures are not strictly followed, especially affecting a borrower's redemption rights. It set aside a 2013 Madras High Court decision that upheld the sale of The Fernhill resort in Ooty by Sterling Holiday Resorts Ltd. The court found multiple procedural violations and emphasized the mandatory 30-day notice period under the Security Interest Enforcement Rules.
Deccan Herald··Ooty




