1. Where a secured creditor proceeds under the SARFAESI Act, the adequacy of description of the secured asset in the Demand Notice and subsequent Sale Notice, and the observance of mandatory procedures, are crucial for the validity of the sale notice. In the absence of specific objection regarding the extent of land in the Demand Notice, and proof of service of the Possession Notice via multiple methods, the measures taken are upheld if sufficient identification is given.
2. Discrepancies in land measurements alleged by borrowers must be substantiated by documentary evidence. In this case, loan application, bank records, and receipt documents were examined to determine the actual extent of land mortgaged. Records established that the extent offered for security (3.13 ares) accounted for the combined extent available to the appellant under the partition and settlement deeds, making the contention of selling a larger area without authority untenable.
3. In disputes regarding valuation where a forced/distress sale is intended, the Tribunal may rely on the valuation report of a valuer approved under the Wealth Tax Act provided by the secured creditor. If the appellant challenges the valuation, they must produce material such as guideline values or comparable sale deeds to establish a manifest error. Mere statements by a Chartered Engineer do not suffice to rebut the approved valuer's report in the absence of supporting documentary evidence of market rates.
4. Omissions in the valuation report, such as failing to explicitly mention a specific settlement deed in the description while still valuing the property covered by it, or describing mortgaged property as 'to be mortgaged,' do not vitiate the proceedings if the actual property is valued. Such errors are not fatal when the overall valuation process is meticulous and procedures are followed.
5. The Auction Sale certified in favour of the auction purchaser is valid where the Reserve Price is fixed in accordance with the depreciation of the Force Sale value, subsequent notices are served, and no valid ground is made out to set aside the impaired DEL title proceeding of the lower adjudicator of the SARFAESI Act.
