Supreme Court allowed a borrower to reclaim his auctioned residential property by depositing ₹1.06 crore with ICICI Home Finance.
The Court ordered the auction purchaser to be compensated with ₹3 lakh for the cancelled sale.
The bank was directed to return all property title documents to the original borrower within one week.
The case involved enforcement under the SARFAESI Act, 2002 for a loan liability of ₹1.01 crore.