NCLAT hears Indojewel's appeal against a Rs 1.02 crore demand from a cooperative society on a property it purchased for Rs 5.21 crore in a liquidation auction.
The appellant argues it is a bona fide auction purchaser protected by the clean slate principle after receiving a sale certificate on 16.08.2023.
The respondent society contends auction terms required the purchaser to clear all existing charges on the property.
The tribunal grants the society two weeks to file a reply and lists the matter for next hearing on 16.10.2026.