PRAVIN GADA Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) These applications were preferred by the Bank stating that going by the present valuation the property will fetch nearly Rs 10 crores whereas the order stipulates reserve price of only Rs 3 crores. Hence, the Bank has sought modification of the upset price fixed by the Court.

(2.) The learned counsel for the Bank also submitted that as per the Debts Recovery Tribunal Act the time stipulated for auction is thirty days whereas the order directs to conduct the auction within two weeks. To this extent the respondent seeks modification of that direction also.

(3.) The learned counsel on the either side submitted that the auction should go on without any delay.