EVA Agro Feeds Private Limited filed an application against Sunil Mohan Acharya, the Liquidator of Amrit Feeds Limited, after the liquidator cancelled an e-auction in which EVA Agro Feeds was declared the successful bidder. The Corporate Insolvency Resolution Process (CIRP) was initiated against Amrit Feeds Limited, and subsequently, an order of liquidation was passed, appointing Sunil Mohan Acharya as the liquidator. The applicant, EVA Agro Feeds, participated in the e-auction for the assets of Amrit Feeds and was declared the successful bidder. However, the liquidator cancelled the e-auction, citing clause 3(k) of the disclaimer clause in the e-auction process document, leading to the current application seeking the court's intervention.
Amrit Feeds Limited underwent Corporate Insolvency Resolution Process (CIRP) and was subsequently ordered into liquidation, with Sunil Mohan Acharya appointed as the liquidator. EVA Agro Feeds Private Limited participated in an e-auction for the assets of Amrit Feeds. EVA Agro Feeds submitted a bid of Rs. 10 crore after depositing an Earnest Money Deposit (EMD) of Rs. 1 crore. EVA Agro Feeds received an e-auction certificate declaring them the successful bidder. The liquidator, however, cancelled the e-auction citing clause 3(k) of the disclaimer clause in the e-auction process document, which allowed the liquidator to cancel the e-auction without assigning any reason. EVA Agro Feeds challenged the cancellation, arguing that it violated the Liquidation Process
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EVA Agro Feeds Private Limited filed an application against Sunil Mohan Acharya, the Liquidator of Amrit Feeds Limited, after the liquidator cancelled an e-auction in which EVA Agro Feeds was declared the successful bidder. The Corporate Insolvency Resolution Process (CIRP) was initiated against Amrit Feeds Limited, and subsequently, an order of liquidation was passed, appointing Sunil Mohan Acharya as the liquidator. The applicant, EVA Agro Feeds, participated in the e-auction for the assets of Amrit Feeds and was declared the successful bidder. However, the liquidator cancelled the e-auction, citing clause 3(k) of the disclaimer clause in the e-auction process document, leading to the current application seeking the court's intervention.
Amrit Feeds Limited underwent Corporate Insolvency Resolution Process (CIRP) and was subsequently ordered into liquidation, with Sunil Mohan Acharya appointed as the liquidator. EVA Agro Feeds Private Limited participated in an e-auction for the assets of Amrit Feeds. EVA Agro Feeds submitted a bid of Rs. 10 crore after depositing an Earnest Money Deposit (EMD) of Rs. 1 crore. EVA Agro Feeds received an e-auction certificate declaring them the successful bidder. The liquidator, however, cancelled the e-auction citing clause 3(k) of the disclaimer clause in the e-auction process document, which allowed the liquidator to cancel the e-auction without assigning any reason. EVA Agro Feeds challenged the cancellation, arguing that it violated the Liquidation Process
…The Adjudicating Authority admitted the…
An order of liquidation was passed in respect…