Legal Question in Banking Law in India
how the reserve price is decided in particular auction in which secured asset is in particular debt.
if the reserve is less than property value .what the solution?
Asked on 1/21/11, 1:54 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
reserve price is fixed on the basis of approved valuer's estimate. If it is less than what the owner of the property considers its price, he can marshall people who can offer a price which he considers its true value.
Answered on 1/23/11, 6:30 pm
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