TaxTMI 
TaxTMI 
1987 (8) TMI 457
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....eces of agricultural lands totalling 4.34 acres was attached. In execution proceedings commenced by E.P. 37 of 1980 which was renumbered as E.P. No. 112 of 1981, the sale was advertised for 27th July, 1981, but was adjourned at the instance of the judgment-debtor as he paid a part of the amount. 3. We are not concerned with the two or three other occasions when the sale was adjourned from time to time, but it needs to be mentioned that when the sale was due to be held on 27th July, 1981, the sale did not go through on account of the absence of the bidders. At that time, the upset price was fixed by the Court at Rs. 60,600/-. The decree-holder, finding that her attempt to sell the property was not bearing fruits, applied for reduction of th....
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....debtor by means of an order under R. 54, it shall not be necessary to give notice under this rule to the judgment-debtor unless the court otherwise directs; Provided further, that nothing in this rule shall be construed as requiring the Court to enter in the proclamation of sale its own estimate of the value of the property, but the proclamation shall include the estimate, if any, given, by either or both of the parties. 5. The second proviso provided that the provisions of O. 21, R. 66, C.P.C. should not be construed as requiring the Court to enter in the proclamation of sale its own estimate of the value of the property but the proclamation had to include the estimate, if any, given, by either or both of the parties. Undoubtedly, the f....
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.... of the upset price and notwithstanding the fact that a bidder has offered an amount higher than the upset price, it will still be open to the judgment-debtor to approach the executing Court and adduce proof that the property has been sold for a low price on account of some material irregularity or fraud in the publication or conduct of the sale and have the sale set aside. As observed above, when the court fixes the upset price that fixation is only for facilitating the conduct of the sale and to safeguard the interests of the judgment-debtor by fixing a reserve price. The object of fixing the upset price is to fix the lowest sum for which the property which is being auctioned will be sold or in other words, it is the sum from which the b....