Due diligence access and land-use conversion remain under review as inspection and affidavits are directed before further consideration.

Prospective bidders were to be given access to relevant documents for due diligence, and the Liquidator raised no objection to inspection of documentary material in his possession or to site inspection on 48 hours' prior notice. Because the central question was whether the subject land had been converted to industrial use, the SC directed State and town planning authorities to file affidavits on whether conversion permission had been granted. The time for completing due diligence was extended until the next date of listing, and the conversion issue was left for further consideration without final adjudication.

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Issues: Whether prospective bidders should be allowed access to relevant documents and site inspection for due diligence, and whether the land at the subject site had been converted to industrial use.

Analysis: The Liquidator indicated no objection to inspection of documentary material in his possession and to inspection of the land on 48 hours' prior notice. As the core controversy turned on the status of land-use conversion, notice was issued to the State authorities and the town and country planning authorities to file affidavits on whether permission for conversion to industrial use had been granted. Time for completion of due diligence was extended until the next date of listing.

Outcome: No final adjudication was made on the conversion issue, and the matter was directed to be listed on the next date for further consideration.

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