Apex Law Journal
Apex Law Journal
An online law journal reporting latest and important judgments of Hon'ble Supreme Court of India.                                                                                                                         Click here to get free legal updates via email                                                                                                                          Click here to download forms (Address Form, List Of Documents and Memorandum Of Appearance)
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Editor

Neha Goel, Advocate

Advisory Board

S.C. Khunger, Advocate

Rohit Bansal, Advocate

Varinder Singh Kanwar, Advocate

Hittan Nehra, Advocate

Judgments on Reserve Price

Wednesday, May 14, 2008
Reserve Price

Reserve Price — Non-disclosure of — Reserve price fixed for the purpose of allotting plot, in the present case, was neither mentioned in the public notice nor was the same announced before the start of the auction — Whether non-disclosure of the reserve price in the Public Notice is a ground on which the High Court could direct the authorities to allot alternative plots in favour of the respondents in exercise of its powers under Article 226 of the  Constitution ? — Held, no — Best course for the High Court would be cancel to entire auction rather than substituting its own opinion by directing allotment of alternative plots — Punjab Agricultural Produce Markets Act, 1961 — Constitution of India, 1950, Article 226.

 
Reserve Price

Reserve Price — Non-disclosure of — Whether can be termed as unfair ? — Held, no — It is common knowledge that when reserve price is disclosed, the bidders often form cartels and bid at or around the disclosed price, though the market price is much higher — High Court, in the present case, has erred in holding that the appellants had acted in an unfair manner in not disclosing the reserve price at the time of inviting tenders or even at the time of holding the auction.

 
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