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2026High CourtInsolvencyLatestLegalMarch 2026

Bombay HC Flags IBC Misuse to Stall SARFAESI Enforcement

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The petitioners were successful bidders in the auction of the secured assets held on 13.12.2024 and the sale certificate was issued on 24.12.2024.

 In 2025, the respondent no.7 filed section 94 IBC petition during the pendency of SA before the DRT.

Thereafter, taking advantage of the moratorium, the respondent nos.3 to 7 borrowers / guarantors, stalled further proceedings of auction sale, although sale certificate was issued.

On 2.9.2025, the NCLT decided the intervention application of the petitioners – auction purchasers that the secured assets was excluded prior to the moratorium.

On 6.10.2025, the sale deed in favour of the petitioners was registered.

However, further proceedings were stalled on one or another count.

Judgment dated 18.3.2026 of the High Court of Bombay in Writ Petition (L) No.5157 of 2026 of Rozina Firoz Hajjiani and others   Vs. Union of India through Ministry of Corporate Affairs & others

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