situated at Kalaimagal Nagar in Mangadu Village, Chennai - 101. Reserve price was fixed as Rs.13,00,000/-. EMD was fixed ... approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part
approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part ... report and fixing the reserve price. In case proper valuation has not been made and the reserve price is fixed taking into consideration the inaccurate
properly determine the value of the property and re-fix the reserve price for the property, as described in the 'Schedule of Property ... directed to be considered, to redetermine and re-fix the reserve price for the said property.
5. Heard the learned counsel for the party
approved valuer and in consultation with the secured creditor,
fix the reserve price of the property and may sell the whole or any part
approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part ... approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part
bring the land and constructions
thereon for auction by fixing the reserved price as Rs.7.5 crores. The
e-auction notice was challenged ... price offered by the third respondent/auction purchaser for
Rs.7,51,00,000/- was accepted on the reason that the reserve price
fixed
month from the date of the order. The reserved price was fixed at Rs.62,00,000/-.
4. Aggrieved by the same, the applicant ... directed the Official Assignee to conduct a fresh auction sale fixing the reserve price at Rs.62,00,000/-. Accordingly, Official Assignee conducted fresh auction
sought to be sold in public auction, by fixing a very low reserve price of Rs.57.46 Crores. They have further contended that ... Valuer's report of the bank and reduction in the reserved price fixed in the e-auction notice dated 7.9.2016. Learned counsel
very low price, which is evident from the value fixed, as reserve price. It is further emphasized that the properties have been valued by respondent ... respondent is very much prejudicial to rights of petitioner as the reserve price fixed is very low.
7) Respondents are trying to make undue profit
from any manner subjecting the property to auction by arbitrarily fixing the reserve price of the property without following the due process.
For Petitioner ... auction date, the respondent has to prove that the reserve price was fixed as per the valuation report. But, the respondent bank failed to file
