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As per the case facts the appellant challenged a Tribunal's judgment dismissing an application to set aside auction proceedings A central issue was the mandatory nature of depositing the purchase
...amount The question arose whether the deposit of the purchase amount in auction proceedings is strictly mandatory and what the repercussions are for incomplete compliance Finally the Supreme Court partly allowed the appeals affirming that the deposit provision is mandatory and directing the auction purchaser to pay an additional sum with interest to the Liquidator reinforcing the mandatory nature of the deposit requirements under relevant regulations
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