SHAKEENA . vs BANK OF INDIA AND ORS.

The Supreme Court upheld the dismissal of the appellants' writ petitions challenging the actions of the respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, specifically Sections 13(2) and 13(4). The Court found that the bank had followed due process in issuing notices and conducting the auction, and the appellants failed to comply with the conditions set by the Debts Recovery Tribunal. The Court affirmed the legality of the sale conducted on 19th December 2005, thereby rejecting the appellants' claims.