Karnataka High Court shocked over valuation of plantation property worth crores at a pittance of its value for bank auction (opens original article in a new tab)

Karnataka High Court criticized a bank auction process where a plantation was undervalued, leading to a significant loss, and ordered an investigation into the valuer's qualifications and actions.

• Karnataka High Court found a valuer incorrectly valued a 39-acre plantation at ₹61 lakh instead of ₹3.12 crore
• The valuer was unqualified to value agricultural lands and plantations according to his registration certificate
• The court ordered the valuer to show cause for potential prosecution and contempt of court
• The bank had previously valued the property at ₹2.73 crore when sanctioning a loan in 2014