Section 8(5) in The Security Interest (Enforcement) Rules, 2002
(5)Before effecting sale of the immovable property referred to in sub-rule (1) of rule 9, the authorized officer shall obtain valuation of the property from an approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part of such immovable secured asset by any of the following methods:-(a)by obtaining quotations from the persons dealing with similar secured assets or otherwise interested in buying the such assets; or(b)by inviting tenders from the public;(c)[ by holding public auction including through e-auction mode; or] [Substituted by Notification No. G.S.R. 1046 (E), dated 3.11.2016 (w.e.f. 20.9.2002).](d)by private treaty.
