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Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether the Official Liquidator's Report seeking confirmation of sale by e-auction in favour of the highest bidder should be allowed and whether the interim application seeking recall of the order permitting e-auction and cancellation of the sale process should be dismissed.
Analysis: The deed of conveyance relied upon by the applicant is admitted to be unregistered and unstamped. The applicant has not explained the delay in asserting possession or objecting after physical possession was taken by the official liquidator on 23.06.2023 and after the Court's order dated 19.01.2024 permitting e-auction. The e-auction process resulted in a highest bid substantially above the reserved price with an e-auction summary supporting confirmation of sale. The applicant was permitted liberty to pursue any appropriate legal remedy available in law instead of seeking to frustrate the confirmed e-auction process. The possibility of impounding and stamping the document or initiating separate proceedings does not justify staying or setting aside the e-auction confirmation at this stage.
Conclusion: The Official Liquidator's Report seeking confirmation of sale by e-auction is allowed in favour of the highest bidder; the interim application seeking recall of the order permitting e-auction and cancellation of the sale process is dismissed.
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