Section 5 in The Security Interest (Enforcement) Rules, 2002
5. Valuation of movable secured assets.
- After taking possession under sub-rule (1) of rule 4 and in any case before sale, the authorized officer shall obtain the estimated value of the movable secured assets and thereafter, if considered necessary, fix in consultation with the secured creditor, the reserve price of the assets to be sold in realisation of the dues of the secured creditor.
