In an auction if the highest bidder refuses to take the property, can it be given to the second or third highest bidder by bank privided the second /third highest bids are above the reserve price.
Asked on 9/21/11, 8:21 pm
4 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) lawnrajiv@gmail.com
its the discretion of the bank.
Answered on 9/21/11, 10:53 pm
Sanjay Kalra
Sanjay Kalra & Associates
Yes it will be given to 2nd or the 3rd highest bidder. There is no discretion of the bank in this matter.
Answered on 9/21/11, 11:23 pm
RAJIV GUPTA
(Cell: +91 9811284735) lawnrajiv@gmail.com
the bank has a discretion in scrapping the entire auction and re auction the same.
Answered on 9/22/11, 2:16 am
KarVai Legal Solutions
Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in
yes its bank discretion
Answered on 9/26/11, 12:46 am
