Karnataka High Court shocked over valuation of plantation property worth crores at a pittance of its value for bank auction
The Karnataka High Court has criticized a bank for auctioning a 39-acre plantation at a fraction of its actual value based on an unqualified valuer's report. The court is now considering criminal proceedings against the valuer for filing a false affidavit.
Why it matters
It highlights systemic issues in bank auction processes and the legal accountability of professional valuers in property disputes.
In a stunning revelation that exposes the underbelly of a bank auction process, the Karnataka High Court has found that a registered but “unqualified” valuer had valued a sprawling 39-acre coffee and cardamom plantation in Kodagu district — worth over ₹3.12 crore way back in 2014 — at a paltry sum of ₹61 lakh in 2024, resulting in its sale in an auction by the bank for a mere ₹99 lakh.
The report focuses on legal proceedings and court observations without taking a partisan stance.
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