NISHA SURESH vs UCO BANK SAMBALPUR BRANCH — C.A. No. 8347/2011

Case Summary: Nisha Suresh v. UCO Bank Sambalpur Branch (C.A. 8347/2011) The Supreme Court allowed appeals by auction purchaser Nisha Suresh and UCO Bank, setting aside the High Court's June 2010 order. The High Court had permitted borrowers of Hirakud Rice Mill to retain mortgaged property by paying outstanding dues (₹1.43 crores) in four installments over six months, granting them "breathing time" despite an auction sale already completed. The Court held the High Court lacked authority to extend such indulgence contrary to the SARFAESI Act, as borrowers failed to exercise redemption rights before the sale date and were not ready with full payment when the petition was heard. The sale certificate issued to Nisha Suresh on January 4, 2010, stands valid. This case analysis is maintained by casestatus.in based on publicly available court records.