📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      How is the Specified Value of the subject-matter of a

      commercial dispute determined when the relief sought relates to immovable property or a right therein under Commercial Courts Act?
      A The purchase price of the immovable property Correct Answer Incorrect Answer
      B The current market value of the immovable property as on the date of filing of the suit, appeal, or application Correct Answer Incorrect Answer
      C The cost of the immovable property Correct Answer Incorrect Answer
      D The assessed value for property tax purposes Correct Answer Incorrect Answer

      Solution

      Section 12. Determination of Specified Value: (1) The Specified Value of the subject-matter of the commercial dispute in a suit, appeal or application shall be determined in the following manner:-- (c) where the relief sought in a suit, appeal or application relates to immovable property or to a right therein, the market value of the immovable property, as on the date of filing of the suit, appeal or application, as the case may be, shall be taken into account for determining Specified Value.

      Practice Next
      More Other Laws and Acts Questions
      ask-question