Act/Law wise: Judgment of Supreme Court of Bangladesh

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Bangladesh Shilpa Bank (Direct Sale of Mortgaged Property) Rules, 1980
Section/Order/Article/Rule/Regulation Head Note
Rule 7(3)

It cannot be laid down as a general rule that a sale by private negotiation which the Bank has got power to do under rule 5 generally will be invalid ab initio because the auction or tender process which has begun has not been exhausted. When such a sale by private negotiation takes place and the matter is brought to the Court, the question for consideration should be whether there was any malafide or lack of proper consideration in the transaction. M/S. New Ideal Engineering Works Ltd. Vs. Bangladesh Shilpa Bank and others, 13 BLD (AD) 136. ....View Full Judgment