Sale in favour of the Auction Purchaser could not have been set aside on ground alone that the escalation of the prices in property was not considered – Rajasthan Financial Corporation Jaipur and Others Vs. M/s Jain Bandhu Sneh Resorts Pvt. Ltd. and Another. – Supreme Court

The Hon’ble Supreme Court held that the Division Bench of the High Court has set aside the confirmation of sale only on the ground that the Corporation has not taken into account the escalation of the prices in property between 14.06.2013 to 15.01.2018. Except this ground, there is no fault found with the auction proceedings and finalization of the sale in favour of the Auction Purchaser. Therefore, we are of the considered view that the sale in favour of the Auction Purchaser could not have been set aside by the Division Bench of the High Court on this ground alone. However, we are in agreement with the observation that the Corporation ought to have considered imposing interest on the bid amount from 2013 to 2018.

Sale in favour of the Auction Purchaser could not have been set aside on ground alone that the escalation of the prices in property was not considered – Rajasthan Financial Corporation Jaipur and Others Vs. M/s Jain Bandhu Sneh Resorts Pvt. Ltd. and Another. – Supreme Court Read Post »