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        Companies Law

        2018 (1) TMI 550 - HC - Companies Law

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        High Court reduces reserve price by 25% for sale of movable goods due to valuation issues. Official Liquidator to attempt sale in separate lots. The High Court of Delhi reduced the reserve price by 25% for the sale of movable goods after no bids were received due to valuation issues. The Official ...
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              High Court reduces reserve price by 25% for sale of movable goods due to valuation issues. Official Liquidator to attempt sale in separate lots.

                              The High Court of Delhi reduced the reserve price by 25% for the sale of movable goods after no bids were received due to valuation issues. The Official Liquidator was directed to attempt the sale of common movable properties in separate lots and consult with secured creditors. Next hearing scheduled for 04.04.2018.


                              The High Court of Delhi noted that no bids were received due to valuation issues in the sale of movable goods. The court reduced the reserve price by 25% and directed the Official Liquidator to attempt the sale of common movable properties like garments, sewing machines, and fittings & fixtures in separate lots. The Official Liquidator will file a fresh report and consult with secured creditors for the sale. Next hearing scheduled for 04.04.2018.
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