Auction Property

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As per the Legal system in India, there are several junctions where the Courts/Bank are of the decision to sell the properties for various reasons. The property in the auction can be purchased on a very benefecial prices. Taking recourse to the provisions of the Securitization and Reconstruction of Financial Assetts and Enforcement of Security Interests, 2005, the Banks and Financial Institutions sell out the Financial Assetts i.e. Plant & Machineary, Plot of land, Land and Buildings through competative biddings, Tenders, open auctions, and some time through Private Treaties.

Sencondly, the Debts Recovery Tribunals spread all over India Sell out the Properties through Public Auction conducted by the Recovery Officers of the jurisdictional Debt Recovery Tribunals. Now the Ministry of Finance has issued the direction and the properties are being sold through online Auction to be conducted by the Debt Recovery Tribunals.

Thirdly, the Company Courts sell out the assetts of the Companies under Liquidations through auction conducted by the Official Liquidators.

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