District Deputy Registrar, Co-
operative Societies, Kolhapur fixed the upset price of the immovable
properties of the respondent no.1. It is the case ... petitioner that
the said upset price was fixed by the District Deputy Registrar, Co-
operative Societies, Kolhapur in respect of both the properties
upset price has been fixed at Rs. 55 lakhs and that the property should not be sold at any price lower than the upset price ... illegal. Once a reserved or upset price is fixed, that price must necessarily be the governing price for the purposes of evaluating the bids which
submitted that the special recovery
officer did not fix any upset price required to be fixed before putting the property
of the judgment debtor ... taken place in defiance of well established principles and
procedures. The upset price which had initially been fixed at Rs.
55.42 lakhs on 15th October
midst of the auction process, proper
procedure was not adhered to , upset price fixed was
highly inadequate, a fraud was committed in conduct of
auction ... which was put to auction
by the Liquidator. The upset price fixed to the tune of
Rs.10,64,97,000/- and approved
upset price has been fixed at Rs. 55 lakhs and that the property should not be sold at any price lower than the upset price ... illegal. Once a reserved or upset price is fixed, that price must necessarily be the governing price for the purposes of evaluating the bids which
submitted that the special recovery
officer did not fix any upset price required to be fixed before putting the property
of the judgment debtor ... taken place in defiance of well established principles and
procedures. The upset price which had initially been fixed at Rs.
55.42 lakhs on 15th October
submitted that the special recovery
officer did not fix any upset price required to be fixed before putting the property
of the judgment debtor ... taken place in defiance of well established principles and
procedures. The upset price which had initially been fixed at Rs.
55.42 lakhs on 15th October
sale certificate and the sale
confirmation on the ground that the upset price was approved on 29 th
April 2010 and auction had taken place ... certificate and sale confirmation has been set aside is that the upset
price was fixed on 20th October 2010 whereas sale has been conducted
sale certificate and the sale
confirmation on the ground that the upset price was approved on 29 th
April 2010 and auction had taken place ... certificate and sale confirmation has been set aside is that the upset
price was fixed on 20th October 2010 whereas sale has been conducted
gravamen of the submissions is :
a. While issuing tender the upset price is not fixed.
b. The tender is allotted for a long duration ... clause 4 of the G. R. dated
09.09.2014 prescribes fixing the upset price before issuance of
tender. Clause 6 of the said G. R. provides
