Auction time extended by an hour without prior notice by bank


I had participated in an auction recently to purchase a house. As per the notice given by the bank, the auction was supposed to be conducted from 4 pm - 5 pm with the auto extension of 5 min (provided if any bid is received within the last five minutes) till the sale is concluded. However, without any prior notice, scheduled auction time was changed to 4 pm - 6 pm without any prior notice. I was the highest bidder (H1) till 5 pm (Price P1), but later after 5 pm someone started bidding, and the auction went on. Ultimately I am the highest bidder now as well (P2). P2 is substantially higher than P1. Can I ask for the records and file a case asking to allow me to register the property at the P1 price? I had asked the manager for an explanation but was told that the other bidders did not get the login details and hence the auction was extended by an hour.

Answers (1)


264 votes

Hi,
This is M.A RAHEEM KHAN Advocate, From : Hyderabad, @ lawrato.com

You have to issue Legal Notice to Manger through Advocate for explanation how they extended an hour without prior notice and wait for reply if he fail to give reply in Specified time which mention in Legal Notice then you can file case against the Manager.


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