AUCTIONS BY BANK, Debts Recovery Tribunal.
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The SRFAESI Rules stipulate the procedures that must be followed by the Authorized officers of the bank while auctioning of assets held by them as securities (mortgaged to them). Auction purchasers must have some knowledge of the rules. Otherwise it is possible that there are some violations of the rules which may be used as a technical ground to set aside the auctions putting every body to grave hardship.

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