Section 13(8) of the SARFAESI Act grants a right to the borrower to stop the sale of secured assets even after the 60-day notice period has expired. When can this right be exercised?

Section 13(8) (substituted by the 2016 Amendment) provides that where the amount of dues of the secured creditor together with all costs, charges and expenses is tendered by the borrower to the secured creditor at any time before the date of publication of notice for public auction or inviting quotations or tender from public or private treaty for transfer of the secured assets, then: (i) the secured assets shall not be transferred by way of lease, assignment or sale; and (ii) if any step for transfer has already been taken, no further step shall be taken. This right of redemption before auction publication is an important borrower-protection provision that preserves the equity of redemption up to the point of formal auction notice.