# In the matter of NDR Unique Space Private Limited vs. Konduru Prasanth Rjau & Ors.

> HC judgment dated 2023-06-15. Citation: TCN-2023-HC-00059. The case involves a writ petition filed by M/S NDR Unique Space Private Limited against Konduru…

- **Court:** HC
- **Order date:** 15 Jun 2023
- **Citation:** TCN-2023-HC-00059
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/ndr-unique-space-private-limited-vs-konduru-prasanth-rjau-ors-83e36491

## Summary

### Background

The case involves a writ petition filed by M/S NDR Unique Space Private Limited against Konduru Prasanth Raju, the liquidator for Base Corporation Ltd. The petitioner was the highest bidder in an e-auction for assets of Base Corporation Limited, which was undergoing liquidation after CIRP proceedings initiated by the NCLT failed. The petitioner deposited 25% of the bid amount but sought clarifications/concessions from the liquidator, leading the liquidator to file an application with the NCLT for clarification. The petitioner approached the High Court because the NCLT was adjourning the matter, and the petitioner risked losing the deposited amount if the sale wasn't completed within the stipulated time.

## Facts

Base Corporation Limited was undergoing CIRP, initiated by the NCLT on 2019-08-02. Resolution plans failed, leading to liquidation, which was allowed on 2022-04-26. Konduru Prasanth Raju was appointed as the liquidator. Assets, including property at Hosur, were put up for e-auction, with a sale notice published on 2023-02-13. The e-auction date was 2023-03-20. M/S NDR Unique Space Private Limited emerged as the highest bidder and deposited 25% of the bid amount (Rs. 16,53,50,000). The sale was to be concluded within 90 days. The petitioner sought clarifications/concessions, prompting the liquidator to file an application with the NCLT. The NCLT's adjournments led the petitioner to approach the High Court, fearing loss of the deposited amount. The last day for

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## Issues and analysis

### Issue 1: Whether the High Court should intervene in the NCLT proceedings to direct the liquidator to accept …

**Ratio:** The High Court has the power to issue writs, including mandamus, to direct authorities to

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**Reasoning:** The court considered the petitioner's predicament, the potential loss of the deposited

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**Interpretation:** The High Court's power of judicial review allows it to ensure that subordinate

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**Application:** The High Court directed the liquidator to accept the balance sale

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## Parties

- **Judges:** G.NARE…; C.M. POO…
- **Appellants:** M/S NDR UNIQUE…
- **Respondents:** BASE CORPORATION…; Konduru Prasanth…

## Timeline

- **2019-08-02 — CIRP Init…**: CIRP proceedings initiated by the NCLT…
- **2022-04-26 — Liquidation…**: Application for liquidation of the Corporate Debtor was allowed, and the respondent was…

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