DRT Upholds Union Bank’s Auction Sale — Rejects Borrower’s Claim of Improper Notice

The Debt Recovery Tribunal (DRT) upheld the auction sale conducted by Union Bank, rejecting the borrower’s challenge alleging defective or improper notice. The tribunal held that the bank complied with statutory notice requirements and due process, and auction sale stands valid. The decision reinforces lender rights under securitization laws and underscores that once procedural norms are met, auction sales cannot be lightly invalidated by borrowers.