C.N.Paramsivan & Anr vs Sunrise Plaza Tr.Partner & Ors

The Supreme Court upheld the decision of the Debt Recovery Appellate Tribunal, affirming the dismissal of the writ petition filed by the appellants against the Indian Bank. The Court noted that the proceedings stemmed from a loan default leading to an ex-parte decree, and emphasized the importance of adhering to procedural requirements under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court held that the appellants, as auction purchasers, were entitled to the sale certificate issued in their favor, thereby reinforcing the sanctity of auction sales conducted under the Act.