Auction purchase of car
S Y Chandrachud
(Querist) 17 April 2012
This query is : Resolved
Bank given Auction Notice for Sale of Bank Car. I am the highest bidder & car alloted to me. After eight days bank tells me they had make valuation of car which is higher than i had bidded. Hence Car will not be alloted to me. What is the solution for me ?
ajay sethi
(Expert) 17 April 2012
bank must have fixed reserve price beofre auction .
since bid price was more than reserve price they sold car to you . have you made full payment ?
you should protest that under bid conditions reserve price was mentioned and you have bid more thn reserve price .
valuation if any had to be done before sale .
issue legal notice .
if you have not made payment then forget it as bad dream
Shonee Kapoor
(Expert) 17 April 2012
Issue legal notice to them.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Surender Kumar Sharma
(Expert) 18 April 2012
Dear quariest
follow the direction of Experts Mr. Ajay Sethi and Mr.sonee Kapoor because if you have paid the full amount of bid of open auction sale, and same is more that the the value fixed by the bank than the bank have right over the property you can fie both civil and criminal case against the bank issue legal notice and proceed immidiate.
Santosh Goswami,Advocate
(Expert) 19 April 2012
Bank is completely at fault. Once it sold the car in an auction it can't backed down later on on any pretext whatsoever.Lodge an FIR and if the police is not cooperating then at least give the complaint in writing. If the police does not take any action file a crl complaint u/s 156(3)of CrPC before the Magistrate.Later on you can take the civil action as well.
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