The case involves an application (IA No. 4801/ND/2021) filed in a company petition (IB-2257/(ND)/2019) concerning the liquidation of M/s Monica Electronics Limited. The Adjudicating Authority had ordered the liquidation of Monica Electronics and appointed Mr. Sanjay Kumar Singh as the Liquidator. During the liquidation process, the Liquidator published an E-Auction Sale Notice dated 25.08.2021 to sell an industrial plot. M/s Adonis Electronics Private Limited, the applicant, expressed interest and deposited the earnest money. However, they were not provided with login credentials for the e-auction scheduled for 01.10.2021 and were later informed that their documents were not in conformity with the e-auction terms, rendering them ineligible.
M/s Monica Electronics Limited was undergoing liquidation, with Mr. Sanjay Kumar Singh as the Liquidator. An e-auction was announced for an industrial plot, with a reserve price of Rs. 20,50,000 and an EMD of Rs. 2,00,000. M/s Adonis Electronics Private Limited deposited the EMD and expressed interest. The e-auction was postponed multiple times, and Adonis Electronics was not provided login credentials for the final auction date of 01.10.2021. They were informed on 02.10.2021 that their documents were non-compliant. The Liquidator alleged that Adonis Electronics was part of a cartel with other bidders (Ashpura Traders, Salawat Infracon, Hiren Palan, and W9 Realty LLP), citing similarities in bid applications and attestation. Adonis Electronics claims they were not
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The case involves an application (IA No. 4801/ND/2021) filed in a company petition (IB-2257/(ND)/2019) concerning the liquidation of M/s Monica Electronics Limited. The Adjudicating Authority had ordered the liquidation of Monica Electronics and appointed Mr. Sanjay Kumar Singh as the Liquidator. During the liquidation process, the Liquidator published an E-Auction Sale Notice dated 25.08.2021 to sell an industrial plot. M/s Adonis Electronics Private Limited, the applicant, expressed interest and deposited the earnest money. However, they were not provided with login credentials for the e-auction scheduled for 01.10.2021 and were later informed that their documents were not in conformity with the e-auction terms, rendering them ineligible.
M/s Monica Electronics Limited was undergoing liquidation, with Mr. Sanjay Kumar Singh as the Liquidator. An e-auction was announced for an industrial plot, with a reserve price of Rs. 20,50,000 and an EMD of Rs. 2,00,000. M/s Adonis Electronics Private Limited deposited the EMD and expressed interest. The e-auction was postponed multiple times, and Adonis Electronics was not provided login credentials for the final auction date of 01.10.2021. They were informed on 02.10.2021 that their documents were non-compliant. The Liquidator alleged that Adonis Electronics was part of a cartel with other bidders (Ashpura Traders, Salawat Infracon, Hiren Palan, and W9 Realty LLP), citing similarities in bid applications and attestation. Adonis Electronics claims they were not
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