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Tenders or public auction best way to sell state properties- SC
Case Law Details
- Case Name
- Kerala Financial Corporation Vs Vincent Paul & Anr. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Courts
- Supreme Court of India
Tenders or public auction best way to sell state properties- The Supreme Court (SC) has declared “inviting tenders from the public or holding public auction is the best way for disposal of properties belonging to the state.” In this case, Kerala Finance Corp vs Vincent Paul, the borrower failed to repay the loan and the state finance corporation tried to dispose of the mortgaged property. But the process was entangled in civil suits. The SC ssaid the corporation has not framed rules or guidelines for sale of properties owned by them. Therefore the court itself framed rules to be followed b...
