Karnataka High Court shocked over valuation of plantation property worth crores at a pittance of its value for bank auction

AI Summary

The Karnataka High Court expressed shock over the undervaluation of a 39-acre plantation property, originally worth over ₹3.12 crore in 2014, which was valued at just ₹61 lakh and sold at auction for ₹99 lakh. The court's concern highlights issues in valuation practices and bank auction processes.

A 39-acre plantation property, which was worth over ₹3.12 crore in 2014 was valued at ₹61 lakh and soled in bank auction for a mere ₹99 lakh in 2023-24