The appellant, an unsuccessful bidder in an e-auction of a corporate debtor's assets, challenged the auction's validity before the NCLT, alleging irregularities and collusion by the liquidator. The NCLT dismissed his application, leading to this appeal before the NCLAT.
Jai Agarwal, the appellant, participated in an e-auction for the sale of assets of M/s Atlas Alloy (India) Private Limited, a corporate debtor under liquidation. The liquidator, Satyendra Prasad Khorania, conducted the e-auction on September 6, 2023. The appellant alleged irregularities, collusion, and unfair conduct by the liquidator, claiming he was the sole genuine participant until the last few minutes of the auction.
…Liquidator issued a public announcement for…
E-auction process document and terms and…
Sign in to view related legal provisions.
The appellant, an unsuccessful bidder in an e-auction of a corporate debtor's assets, challenged the auction's validity before the NCLT, alleging irregularities and collusion by the liquidator. The NCLT dismissed his application, leading to this appeal before the NCLAT.
Jai Agarwal, the appellant, participated in an e-auction for the sale of assets of M/s Atlas Alloy (India) Private Limited, a corporate debtor under liquidation. The liquidator, Satyendra Prasad Khorania, conducted the e-auction on September 6, 2023. The appellant alleged irregularities, collusion, and unfair conduct by the liquidator, claiming he was the sole genuine participant until the last few minutes of the auction.
…Liquidator issued a public announcement for…
E-auction process document and terms and…
Sign in to view related legal provisions.