P.G. SHAJI vs AMBIKA

The Supreme Court set aside the High Court's order regarding the auction sale of 2 cents of land, emphasizing that the sale must reflect the true market value of the property as contended by the judgment debtor. The Court held that the executing Court failed to consider the valuation of the property, which was claimed to be Rs. 1 lakh per cent, leading to an inadequate sale price of Rs. 35,000 per cent. The Court directed that the auction sale be set aside unless the auction purchaser agrees to the terms specified by the High Court regarding the payment of the bid amount with interest.