Confirmation of Auction Sale Does Not Bar Judicial Scrutiny of Reserve Price: SC

Om Sakthi Sekar Vs V. Sukumar & Ors (Supreme Court of India) Conclusion: A conclusion of an auction sale would not bar re-valuation of the auctioned property, when a question arises regarding the adequacy of valuation or fixation of the reserve price. Held: Appellant was the successful bidder in an auction conducted by the Recovery Officer pursuant to recovery proceedings initiated by a bank before the DRT. The sale was confirmed in 2011 and a sale certificate was issued. The guarantors challenged the recovery proceedings before the DRAT and thereafter before the High Cour...