Auction Sale – Absence of Adequate Publicity

In the absence of adequate publicity of auction sale there could not be maximum participation of bidders on the basis of the land sought to be auctioned could fetch reasonable price as intending bidders are not able to know details of land or itemized valuation of land sought to be auctioned, as such auction sale cannot be said to be in accordance with law. If publicity and maximum participation is to be attained, all the bidders must know the details of asset and valuation thereof. As held by the Hon’ble Apex Court in various decisions that reasonableness of price is to be tested against the dominant consideration to secure best price for the property to be sold and this can be achieved only when there is maximum public participation in the process of sale and everybody has opportunity of making offer. Public auction after adequate publicity ensures participation of every person who is interested in purchasing the property and generally secures the best price. Bhanu Pratap Singh v. Board of Revenue, 2013 (121) RD 339.

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Filed under Auction Sale, Civil Law

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