In conversation with Harish Bindumadhavan, Retainer Counsel at Deloitte
Interviewed by Anshita Khandelwal
Commercial Transactions
When 25% of the bid is already paid, whether failure to deposit the remaining 75% empowers the Bank to direct forfeiture of money even when Bank suffered no loss in subsequent auction? SC answers
Supreme Court: The Division Bench comprising of M.R. Shah and B.V. Nagarathna, JJ., directed the Indian Bank to refund the 25% auction