Vidhikarya Official support e-mail Contact Vidhikarya by phone Number vidhikarya whatsapp Number
Vidhikarya Official support e-mail info@vidhikarya.com Contact Vidhikarya by phone Number+917604047601 vidhikarya whatsapp Number+917604047602
Corporate Services
Contact Us
Corporate Services Contact Us

Home > Free Legal Advice > Question Details

Vidhikarya Legal Questions Answered

100,000+ Legal Questions Answered

100,000+ Legal Questions Answered
Ask Your Question
Last Updated On 03-Jan-2023
Property

Encumbrances more than market value

I have purchased a industrial property at Rs 35 lac in a bank auction under Sarfasaei Act where in bank declared in auction notice encumbrance of payables to electricity board (Rs.18 lac), Grampanchayat (Rs.2.5 lac), Coop IND estate Rs.6 lac, sales tax Rs 220 lac, excise Rs.385 lac. However, market value of property Rs 80 lac as per Govt valuer. My query is whether I am liable to pay more than market value to the said creditors. Supreme court has observed in AI Champady case in 2009 that encumbrance more than market value does not constitute encumbrance. Please advise.

( Mumbai, Maharashtra )

31-Dec-2022

Reply to this question

Reply
A.
hi client,

You are not supposed to pay more than the amount fixed in the bid /auctioned amount.

Thanks and Regards
Simi Paul
Posted On 03-Jan-2023
Simi Paul Advocate Simi Paul
Simi Paul
Callto vidhikarya advocate Simi Paul Call to advocate Simi Paul Send whatsapp message to vidhikarya advocate Simi Paul Send whatsapp message to advocate Simi Paul Send mail to vidhikarya advocate Simi Paul Send mail to advocate Simi Paul
View All Answers
Was the answer helpfull

Helpful

Share
A.
Dear Sir,
Nobody is suppose to pay more than bid amount. Further the bid amount cannot be less than dues on such property.
Posted On 02-Jan-2023
Kishan Dutt Kalaskar
Callto vidhikarya advocate Kishan Dutt Kalaskar Call to advocate Kishan Dutt Kalaskar Send whatsapp message to vidhikarya advocate Kishan Dutt Kalaskar Send whatsapp message to advocate Kishan Dutt Kalaskar Send mail to vidhikarya advocate Kishan Dutt Kalaskar Send mail to advocate Kishan Dutt Kalaskar
View All Answers
Was the answer helpfull

Helpful

Share
Submit request

Submit Request

Post Your Legal Issue to connnect with Lawyers Online

Submit
Talk to a lawyer

Read Related Answers

Authorities Ignoring Illegal Encroachment on Gram Sabha Pond

Dear client, The alleged illegal filling and encroachment of a Gram Sabha pond is a serious issue, as such water bodies are public property and are meant to serve ecological and drainage purposes. If...

Question on House Property Share

Dear Client, If your father validly executed a registered settlement deed in favour of your mother about 10 years ago and the deed has been acted upon, your mother is ordinarily the absolute owner of...

Fmb wrong

Dear Client A discrepancy between the extent shown in the FMB (Field Measurement Book) and the measurements mentioned in your sale deed and patta is a matter that requires verification and should not...

Advise Required on Property Succession

Dear Client The nomination made in favour of your late brother does not, by itself, confer ownership rights. Upon his demise, the nomination in his favour ordinarily becomes ineffective. If your mothe...

Maharashtra co operative housing society

Dear Client On the facts stated, any litigation initiated after nearly 30 years would ordinarily face serious objections on the ground of limitation and delay. If your mother's share was transferred...
Ask a Question

Ask a Question

Ask Now
Settle Your Dispute without going to Court

Read Blogs on Property

Can You Use an Old Stamp Paper for a Property Sale Deed or Gift Deed? Legal Risks Explained
Posted On : May 13, 2024

Can You Use an Old Stamp Paper for a Property Sale Deed or Gift Deed? Legal Risks Explained

Consequences of Ignoring a Legal Notice in Cheque Bounce, Property and Consumer Cases
Posted On : May 13, 2024

Consequences of Ignoring a Legal Notice in Cheque Bounce, Property and Consumer Cases

Can an under-construction property be gifted?
Posted On : May 13, 2024

Can an under-construction property be gifted?

Categories

Property Lawyers

Abhimanyu
Call to Abhimanyu Send whatsapp message Send whatsapp message Send mail to vidhikarya Send mail to vidhikarya

Abhimanyu Shandilya

Kolkata

Call to Kishan Send whatsapp message Send whatsapp message Send mail to vidhikarya Send mail to vidhikarya

Kishan Dutt Kalaskar

Bangalore

©2026 Vidhikarya. All Rights Reserved.

Disclaimer

The Bar Council of India does not permit advertisement or solicitation by advocates in any form or manner. By accessing this website (www.vidhikarya.com), you acknowledge and confirm that you are seeking information relating to VIDHIKARYA LEGAL SERVICES LLP (The LAW FIRM) of your own accord and that there has been no form of solicitation, advertisement or inducement by VIDHIKARYA LEGAL SERVICES LLP or its members.
The content of this website is for informational purposes only and should not be interpreted as soliciting or advertisement. The User agrees that he/she is visiting the site on his own volition to seek more information about the firm and its Advocates.
The contents of this website are the intellectual property of VIDHIKARYA LEGAL SERVICES LLP.

OK Cancel
Vidhikarya Official support e-mail Contact Vidhikarya by phone Number vidhikarya whatsapp Number