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SC: Failure to Pay Balance Within 15 Days Voids Auction under Maharashtra Co-Operative Rules - (02 Mar 2026)

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SC held that auction under Maharashtra Co-operative Societies framework is void ab initio if full purchase price is not deposited within prescribed time. It upheld setting aside of sale, but ordered refund of bid amount with interest, noting purchaser should not suffer for Recovery Officer’s lapse.

Tags : BALANCE   AUCTION   MAHARASHTRA CO-OPERATIVE SOCIETIES RULES  

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