Sole auction participant can't be declared 'winning' bidder: High court
The Karnataka HC stated that having just one bidder in an auction undermines the goal of obtaining the best competitive price. The court ordered a home finance firm to refund earnest money to a sole bidder who did not complete the deal, emphasizing that such a scenario is unjustifiable and logically impossible.
The Karnataka HC stated that having just one bidder in an auction undermines the goal of obtaining the best competitive price. The court ordered a home finance firm to refund earnest money to a sole bidder who did not complete the deal, emphasizing that such a scenario is unjustifiable and logically impossible.
