Overview
- Justice Madhav Jamdar set aside the court-run sale after concluding the bidding was manipulated through cartel-like conduct.
- Each bidder’s ₹10 lakh earnest money was forfeited, with the court directing the funds be parked in a nationalised bank for six months.
- The Deputy Sheriff was told to obtain a new valuation and relaunch the auction in accordance with law for the 852.50 sq m leasehold plot in JVPD, Vile Parle (West).
- A suspect bidding pattern emerged: four offers between ₹85 lakh and ₹1 crore, one at ₹6.03 crore, then live bids jumping to ₹9.50 crore and ₹9.75 crore after two bidders stepped out of court.
- The judge condemned a government valuation of ₹64.47 lakh as a gross undervaluation, noting further concerns after a bidder said he wished to offer ₹15 crore but was told to keep quiet.