The appellant, Ayan Mallick, a suspended director of the Corporate Debtor, filed an appeal against the order of the Adjudicating Authority (NCLT), Kolkata Bench, which dismissed I.A. No. 32/KB/2022. The I.A. sought a stay on the e-auction sale notice dated 16.12.2021 for the sale of the Corporate Debtor's assets under liquidation and the guarantor's assets under the SARFAESI Act. The e-auction notice was for the sale of factory and land, with a joint reserved price of Rs. 16.15 crores. The appellant argued that selling the guarantor's assets would infringe upon their rights under the SARFAESI Act, 2002. The Adjudicating Authority rejected the application, stating that a joint sale would maximize the value of the assets. The possession of the properties of the

The appellant, Ayan Mallick, a suspended director of the Corporate Debtor, filed an appeal against the order of the Adjudicating Authority (NCLT), Kolkata Bench, which dismissed I.A. No. 32/KB/2022. The I.A. sought a stay on the e-auction sale notice dated 16.12.2021 for the sale of the Corporate Debtor's assets under liquidation and the guarantor's assets under the SARFAESI Act. The e-auction notice was for the sale of factory and land, with a joint reserved price of Rs. 16.15 crores. The appellant argued that selling the guarantor's assets would infringe upon their rights under the SARFAESI Act, 2002. The Adjudicating Authority rejected the application, stating that a joint sale would maximize the value of the assets. The possession of the properties of the