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Upset Price - Definition and Legal Context
The upset price is a minimum price set for auction sales of property, serving as a threshold below which the property cannot be sold. It is a crucial element in civil procedure related to property auctions, ensuring the property is not sold below a certain value. The definition of upset price is often derived from specific statutory provisions, such as the Civil Procedure Code (CPC) and relevant land revenue codes. For example, the Mysore Land Revenue Code and Rules 43(1)(3) explicitly define and regulate the fixation of upset price Mohankumar, Bangalore VS Special Deputy Commissioner, Bangalore District - Karnataka, Ramanathan Chetty, Minor, By His VS A. R. A. R. S. M. Somasundaram - Madras. -
Role in Sale Proceedings and Court Decisions
Courts emphasize the importance of fixing the upset price before proceeding with the sale. Failure to do so renders the sale illegal or irregular, as seen in cases where the sale was conducted without fixing an upset price, leading to appeals and orders to rectify the procedure Ramanathan Chetty, Minor, By His VS A. R. A. R. S. M. Somasundaram - Madras, DEVASSYKUTTY
vs
DAISY JOSE - Kerala. The fixation of upset price is necessary to prevent undervaluation and protect the interests of parties involved. -
Implications of Upset Price in Auction Outcomes
The amount realized at auction relative to the upset price is significant. If the sale price is grossly insufficient or if irregularities occur, it can be grounds for setting aside the sale Kamineni Santhakumari VS State Bank of India - Andhra Pradesh. The sale's legality depends on proper adherence to procedures, including appropriate upset price fixation, to avoid substantial injury or injustice. -
Legal Interpretation and Procedural Aspects
The term decree and related procedural steps, including fixing upset prices, are interpreted within the framework of the Civil Procedure Code and other relevant statutes. The law prescribes that the upset price must be determined based on market value or other relevant criteria before auction, and failure to do so violates procedural requirements Parshava Properties Ltd. VS A. K. Bose - Patna. -
Additional Considerations
The definition of upset price is often considered exhaustive within the statutory context, excluding other elements such as service or unrelated concepts. Proper fixation ensures transparency and fairness in sales, and courts have consistently upheld the necessity of fixing the upset price before sale proceedings Narinder S. Chadha VS Municipal Corporation of Greater Mumbai - Supreme Court.
Analysis and Conclusion
The upset price in civil procedure law is a legally defined minimum sale price set to safeguard fair auction practices. It is primarily governed by provisions within the Civil Procedure Code and land revenue rules, emphasizing its importance in ensuring property is not undervalued during sale proceedings. Courts have underscored that fixing the upset price before auction is mandatory; failure to do so can invalidate the sale. The concept is integral to maintaining procedural integrity and protecting parties' rights in civil sales involving property.
Search Results for "Definition Upset Price Civil Procedure Code"
1916 0 Supreme(Mad) 487 • India - Madras
W.AYLING, S.AIYAR
Ratio Decidendi: The court relied on the interpretation of the definition of a decree given in Section 2 of the Code of Civil ... Appeal - Proclamation under Order XX, Rule 66, Code of Civil Procedure - Market value and upset price of property Fact of ... value and upset price of the property to be sold. ... This is an appeal against a proclamation under Order XX , Rule 66, of the Code of Civil Procedure, fixing the market value and upset#....
2022 Supreme(Online)(KER) 29681 • India - High Court of Kerala
C.S. DIAS, J
of only a portion of property and to fix an upset price rendered the sale order illegal, requiring upset price fixation before proceeding ... Execution - Attachment - Code of Civil Procedure 21-64 - The court ruled that failure to address objections regarding the sale ... Issues: The main issues were the legality of the sale order for the entire property without fixing an upset price and failing ... The expression upset price is mo....
1995 0 Supreme(AP) 1038 • India - Andhra Pradesh
D.H.NASIR
The price fetched at the auction was three times the upset price, and the appellant failed to prove that it was grossly insufficient ... CIVIL PROCEDURE CODE - ORDER 21, RULE 90 - EXECUTION SALE - SETTING ASIDE - GROUNDS - IRREGULARITIES - SUBSTANTIAL INJURY - MISDESCRIPTION ... Whether the price fetched at the auction was grossly insufficient? Ratio Decidendi: 1. ... It is further observed that if in the words of the description there was a sufficient certain definition of what was co....
1979 0 Supreme(Pat) 126 • India - Patna
S.K.CHOUDHURI, S.SARWAR ALI
amounting to decree (ii) fictional incursion and (iii) what shall not be decree-In order to fulfill the definition of "decree" ( ... Code of Civil Procedure, Secs 2(2) & 47 & 96 as amended by Act of 1973-"Decree" embraces three parts (i) essential characteristics ... The guardian may agree to an adjournment of a sale, to a waiver of a fresh proclamation, to a reduction of upset price etc. It could not have been the intention of the Legislature that every time such a step is taken, the procedure laid dow....
2025 0 Supreme(Mad) 2587 • India - BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
K.K.RAMAKRISHNAN
(Paras 1-37) ... ... (B) Judicial Protection - Definition of judicial conduct and the need for ... AIR 1966 SC 97The element of honest which is introduced by the definition prescribed by the General Clauses Act is not introduced by the definition of the Penal Code; and we are governed by the deginition prescribed by Section 52 of that Code ... From the above it is clear that A1, A2 and other accused fixed the low upset price even though sufficient....
2011 0 Supreme(Kar) 145 • India - Karnataka
D.V.SHYLENDRA KUMAR
full market value and for such purpose has drawn my attention to the provisions of Rule 43-G and also the definition of “upset price” as is found in Mysore Land Revenue Code Rules 43(1)(3). ... ... In the procedure to be followed for fixing the upset price there is specific mention of the upset price attracted and realized in terms of the order of the Deputy Commissioner dated 2.8.1969 (copy produced as Annexure-R1 to the statement....
2023 4 Supreme 3 • India - Supreme Court
DINESH MAHESHWARI, SANJAY KUMAR
(Paras 34 and 34.1) (C) Civil Procedure Code, 1908 – Order XIV Rule 1 – Framing of issues – At first hearing ... Commercial Courts, Commercial Division and Commercial Appellate Divisions of High Courts Act, 2015, High Court has proceeded to upset ... required to frame and record issues where defendant at first hearing of suit makes no defence – Court, while dealing with regular civil ... The definition of ‘contractual capacity’ as defined under the PPA required that downrating be taken into account, and this de....
2011 0 Supreme(Ker) 1004 • India - Kerala
K.HEMA
- Evidence Act, 1872 - Section 3, 59, 61 and 62 - 'contents of documents' - Main controversy in suit is relating to payment of price ... was filed for permanent prohibitory injunction from trespass, obstruction to enjoyment of the property etc - Whether Payment of price ... - Mere production of a document will not prove the facts stated in the document - If payment of price for the sale is disputed and ... Therefore, `A' paid price to `B' for the sale is also a "thing" which is capable of being perceived by the senses an....
2014 8 Supreme 386 • India - Supreme Court
RANJAN GOGOI, ROHINTON FALI NARIMAN
of sale – ‘Means’ and ‘includes’ – Exhaustive – ‘Service’ cannot be included in such definition. ... Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply & Distribution) Act, 2003 – Section 3(m) – Definition ... Facts of the case: ... In the first case, namely, civil ... It is well settled that such definition is an exhaustive definition (see: P. Kasilingam and others v. P.S.G. College of Technology and others 1995 Supp (2) SCC 348 at para 19). There is thus, no scope to....
2017 0 Supreme(Mad) 752 • India - Madras
M.VENUGOPAL, K.KALYANASUNDARAM
means of which a creation of Mortgage was made by the Petitioner in favour of the Respondent Bank, comes within the ambit of the definition ... Those are, (i) the bidder offers an amount, which is more than the upset price, (ii) the bidder offers an amount, which is less than the reserve price, and (iii) the bidder offers an amount, which is neither less nor more than the upset price. ... The Learned Counsel for the Petitioner submits that the definition of 'Security ....
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