New Delhi: The Supreme Court has said that the authorities can sale the public property in such manner that it fetches the maximum price. The court directed the PSU, Kerala Financial Corporation to follow its guidelines for the sale of such a property to maximize the auction price.
In the matter of sale of public property, the property is to be sold at . the best price .This can be achieved when there is maximum public participation in the process of sale and everybody has an opportunity of making an offer.The court stated that a highest bidder in public auction cannot have a right to get the property or any privilege, unless the authority confirms the auction sale, being fully satisfied that the property has fetched the appropriate price and there has been no collusion between the bidders.
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