Red Flag Files
The patterns that go wrong in auction purchases — and the check that catches each one.
Patterns drawn from reported judgments and the law: a short sale notice, a balance paid late, a schedule that does not match the EC, a stay after the auction, an insolvency filing, an earlier attachment. No property, bank, borrower or year is identifiable. We teach the pattern, never shame the property.
How a Red Flag File is read
Each file takes one thing that has gone wrong in bank-auction purchases, as the courts have described it, and walks through it in the same order.
- 1
The pattern
One defect, described as a type of property, never a particular property.
Our redaction standard
- 2
How it shows in the papers
The documents and the dates where a buyer can see it.
Sale notice · EC · case records
- 3
The rule
The provision that applies, in plain English.
SARFAESI Act · SI(E) Rules
- 4
What the courts said
The holding only, by court and year.
Reported judgments
- 5
Where a check catches it
Whether the six-point check would surface it, or only a deeper review — said plainly either way.
Six-point check
- 6
What the buyer can still do
The step that is still open, and the limit of the auction route.
Limits, stated in every file
Each file describes a pattern, not a property. No property, bank, borrower or year in it is identifiable, and nothing refers to a property listed on Auction Dunia.
Guides
Red Flag File: The 30-Day Notice That Wasn’t
A bank-auction sale held before the thirty days the Rules require had run. What Rules 8 and 9 say, what the Supreme Court has held, and how a buyer counts it.
Read the guideRed Flag File: The Balance Paid on Day 19
A bank-auction sale where the balance arrived after the fifteen-day period, the bank accepted it, and the sale was set aside. The rule, the cases, the fix.
Read the guideRed Flag File: The Schedule That Described a Different Plot
When the schedule in a bank-auction notice does not match the deed, the EC or the Khata: which mismatches courts have excused, which matter, and how to check.
Read the guideRed Flag File: The Stay That Lands After the Auction
A buyer wins a bank auction, then the DRT is asked to stop the sale. How a stay shows in the papers, the s.17 and s.18 rules, the cases, and the buyer’s steps.
Read the guideRed Flag File: The Insolvency Filing Before the Sale Certificate
A bank-auction sale confirmed and part-paid, then the borrower company enters insolvency before the certificate. The IBC moratorium, the case, and the checks.
Read the guideRed Flag File: The Attachment That Was There First
A court or tax attachment, or an earlier charge, made before the bank’s mortgage or sale. The bank sells only what the owner had. The rule, cases and check.
Read the guideAlso on this site
In preparation
Guides being written for this shelf. Each is checked against the law it cites before it is published.
- When the reserve price is the problem
- Whose dues come first: bank, tax or PF
- The plot in an unapproved layout
- The conversion order that was never passed
- The mortgage nobody registered with CERSAI