JUDGMENT : The present writ petition has been filed for issuance of direction upon the respondents to conduct valuation of the immovable properties standing in the name of the petitioner situated at Ward No. 32, Mouza-Matkuria, Thana No. 53, P.S-Dhanbad, District-Dhanbad, appertaining to Khata No. 32, Plot Nos. 686, 688, 689, 690, 691 and 692, measuring an area of 90.30 decimals on the basis of prevailing circle rate applicable for the aforesaid Mouza in order to ascertain the correct and current market price for the purpose of fixing reserve price for sale of immovable properties under the provisions of SARFAESI Act, 2002 inasmuch as despite objections raised by the petitioner with respect to the location of the property situated at Ward No. 32, the respondent-Bank has time and again assessed the value of the property on the basis of circle rate applicable for Ward No. 14 where the property is not actually situated and as such, the petitioner’s property has been intentionally undervalued depriving his rightful claim to get the valuation of the property assessed on the basis of actual current market rate prevailing in concerned circle and location. Further prayer has been made for setting-aside the valuation report dated 18.04.2019 and 06.05.2019 (Annexure-7 & 7/1 to the writ petition) prepared at the instance of the respondent-Bank for ascertaining the value of the immovable properties of the petitioner which has been assessed without any basis by treating the location of the said property in Ward No. 14 of Dhanbad Municipality instead of actual location of the property situated at Ward No. 32 of Dhanbad Municipality inasmuch as the valuer of the property has assessed the valuation of the property on the basis of incorrect information provided by the bank with respect to the location of the property which has deprived the petitioner’s right to get the property assessed on the basis of actual market rate which has been wrongly assessed by the competent authority treating the said property located in Ward No. 14 and as such, the petitioner’s right to property has been seriously prejudiced. 2. Heard learned counsel for the parties and perused the content of the writ petition. The Recovery Officer, Debts Recovery Tribunal, Ranchi vide order dated 24.03.2022 passed in RP No. 297 of 2016, while recalling the proclamation of sale notice dated 31.01.2022 passed following orders: 1. 2. Heard learned counsel for the parties and perused the content of the writ petition. The Recovery Officer, Debts Recovery Tribunal, Ranchi vide order dated 24.03.2022 passed in RP No. 297 of 2016, while recalling the proclamation of sale notice dated 31.01.2022 passed following orders: 1. Both the IAs of the Certificate Debtors are hereby disposed of. 2. The e-auction scheduled on 25.03.2022 is postponed till further orders. 3. Certificate Holder – ASREC (I) Ltd. is directed to file fresh valuation on the basis of the circle rates applied for the area where the property is situated. 4. They are further directed to collect the demand draft of Rs.56,50,000/- (Rupees Fifty-Six Lakh Fifty Thousand only) (No.504713 dated 15.3.2022) for appropriation. 5. Let the EMDs deposited by the bidders shall be returned on receipt. 6. Certificate Debtors are free to file their own valuation, if any, by the next date. 3. Submission of learned counsel for the respondent no. 3 is that in view of the aforesaid order of the Recovery Officer, DRT, Ranchi, a fresh valuation report of the petitioner’s property (land & building along with machinery & equipment) has been prepared calculating the realizable market value of the property as Rs. 7,07,56,075/-, whereas the distress value of the same has been calculated as 5,89,60,651/-. 4. The contention of learned counsel for the petitioner is that the valuation report of the property should have been prepared on the basis of the circle rate multiplied by area of the property, which has not been done by the valuer. 5. On this, learned counsel for the respondent no. 3, submits that the petitioner has already filed an objection before the Recovery Officer, Debts Recovery Tribunal, Ranchi against the fresh valuation report prepared at the instance of the respondent no. 3. 6. Keeping in view that the objection filed by the petitioner against the fresh valuation report of the petitioner’s property prepared at the instance of the respondent no. 3 is still pending before the Recovery Officer, Debts Recovery Tribunal, Ranchi for consideration, this Court is not inclined to entertain the writ petition much less the justifiability of fresh valuation report. 7. The writ petition is accordingly dismissed. The petitioner is, however, at liberty to press his objection filed against the fresh valuation report, which is pending before the Recovery Officer, Debts Recovery Tribunal, Ranchi. 7. The writ petition is accordingly dismissed. The petitioner is, however, at liberty to press his objection filed against the fresh valuation report, which is pending before the Recovery Officer, Debts Recovery Tribunal, Ranchi. I.A. No. 2175 of 2022 also stands disposed of.