In Brief
The appellant challenged recovery proceedings that resulted in the Government auctioning his property for a nominal price of Re. 1/-. He argued the auction was defective due to lack of proper inquiry into market value. However, the Court noted the appellant was willing to settle the entire dues under an available Amnesty Scheme. The Court allowed the appeal and directed that if an Amnesty Scheme application was pending, appropriate action be taken within three months. The property could be restored if the appellant complied with the scheme, with an already-deposited sum of Rs. 10 lakhs to be adjusted against the scheme dues.
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