Legal Question in Banking Law in India
reserve price under auction can be reduce up to what percentage if there is no bidder present in first biding time
Asked on 2/03/11, 7:13 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
It depends upon the Bank's assessment in reducing the upset price, once when the property has not been sold for the reserve price earlier fixed. There is no question of any prescribed percentage.
Answered on 2/03/11, 7:21 am
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