West Bengal REAT Restrains Yes Bank From Taking Possession Of Flats And Selling Them At Auction To Recover Loan Provided To Builder

The West Bengal RERA restrained Yes Bank from taking possession of flats and selling them at auction to recover a loan provided to a builder. The Court found that the builder had failed to deliver the flats on time, which violated the terms of the purchase agreements with homebuyers. Yes Bank's actions were seen as detrimental to consumer rights and in violation of RERA guidelines. The Court directed the bank to hold off on any auctioning or repossession until the matter was resolved, ensuring that the interests of consumers were prioritized.