Sale of Property Quashed as Entire Auction and Bidding Process Found Rigged; Forfeiture of Bidders’ Deposit Ordered: Bombay High Court
The Bombay High Court recently quashed the earlier Court Auction process for a prime property located at JVPD Scheme, Vile Parle, Mumbai – 400056, holding that the initial auction was rigged with bidders forming a syndicate and under-bidding to manipulate the price. The Court emphasized the need to maintain the sanctity of a Court Auction to ensure that the maximum price is fetched for judicially controlled sales. Court Observations on…
