Keshan Trading Corporation filed IA No. 181/2019, 334/2019, and 335/2019 against the Liquidator, seeking similar prayers related to an e-auction. The applicant was the highest bidder for multiple lots but faced issues with the issuance of the Letter of Award (LoA) for all lots. The applicant alleged that the liquidator demanded a bribe for issuing the LoA for Lot No. 1 and would discuss the amount for Lot No. 2 after the completion of the transaction for Lot No. 1. The liquidator denied demanding any bribe and stated that the rejection of bids for Lot No. 1 & 2 was due to logistical issues and the intention to maximize the sale value for the creditors.
Keshan Trading Corporation participated in an e-auction conducted by the Liquidator for assets of Nawa Engineers and Consultants Private Limited. Keshan Trading Corporation was the highest bidder (H1) for Lot Nos. 1 to 5 and 9 in the e-auction held on 2019-03-01. The Liquidator issued a Letter of Award (LoA) dated 2018-04-03 only for Lot Nos. 3, 4, 5, and 9. No LoA was issued for Lot Nos. 1 and 2, despite requests from Keshan Trading Corporation. Keshan Trading Corporation visited the Liquidator's office on 2019-03-05 to inquire about the delay in issuing the LoA for Lot Nos. 1 and 2. Keshan Trading Corporation alleged that the Liquidator demanded a bribe of Rs. 42,00,000 for Lot No. 1 and would discuss the amount for Lot No. 2 after the completion of the transaction
…Sign in to view the parties.
E-auction conducted where…
Letter of Award issued…
Keshan Trading Corporation filed IA No. 181/2019, 334/2019, and 335/2019 against the Liquidator, seeking similar prayers related to an e-auction. The applicant was the highest bidder for multiple lots but faced issues with the issuance of the Letter of Award (LoA) for all lots. The applicant alleged that the liquidator demanded a bribe for issuing the LoA for Lot No. 1 and would discuss the amount for Lot No. 2 after the completion of the transaction for Lot No. 1. The liquidator denied demanding any bribe and stated that the rejection of bids for Lot No. 1 & 2 was due to logistical issues and the intention to maximize the sale value for the creditors.
Keshan Trading Corporation participated in an e-auction conducted by the Liquidator for assets of Nawa Engineers and Consultants Private Limited. Keshan Trading Corporation was the highest bidder (H1) for Lot Nos. 1 to 5 and 9 in the e-auction held on 2019-03-01. The Liquidator issued a Letter of Award (LoA) dated 2018-04-03 only for Lot Nos. 3, 4, 5, and 9. No LoA was issued for Lot Nos. 1 and 2, despite requests from Keshan Trading Corporation. Keshan Trading Corporation visited the Liquidator's office on 2019-03-05 to inquire about the delay in issuing the LoA for Lot Nos. 1 and 2. Keshan Trading Corporation alleged that the Liquidator demanded a bribe of Rs. 42,00,000 for Lot No. 1 and would discuss the amount for Lot No. 2 after the completion of the transaction
…E-auction conducted where…
Letter of Award issued…