https://www.taxtmi.com/caselaws?id=367864 Alleged undervaluation did not vitiate the sale of secured assets where the reserve price was fixed after considering multiple valuations, contemporaneous comparative figures, and government fair value records, and the borrowers' own lower sale of the mortgaged properties undermined the challenge. The plea that the property was agricultural land also failed, because agricultural character under Section 31(i) of the SARFAESI Act depends on the land's nature, actual use, and purpose, and revenue description alone is not conclusive. The borrowers had treated the property as vacant land and proved no agricultural activity or income, so the sale action was upheld. en-us Thu, 02 Aug 2018 00:00:00 +0530 Tue, 25 Sep 2018 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367864 Alleged undervaluation did not vitiate the sale of secured assets where the reserve price was fixed after considering multiple valuations, contemporaneous comparative figures, and government fair value records, and the borrowers' own lower sale of the mortgaged properties undermined the challenge. The plea that the property was agricultural land also failed, because agricultural character under Section 31(i) of the SARFAESI Act depends on the land's nature, actual use, and purpose, and revenue description alone is not conclusive. The borrowers had treated the property as vacant land and proved no agricultural activity or income, so the sale action was upheld. Case-Laws Indian Laws Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367864