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Insolvency and BankruptcySeptember 19, 2022Case LawsAT
Validity of Auction held by the Liquidator - reduced Upset Price - the act of Liquidator stands to be valid as the process was conducted in accordance with the IBBI Rules and Regulations, especially as per Rule 4A and 4B, the Liquidator has power to reduce the Reserve Price by 25% for subsequent action. There is no error in the impugned order w.r.t. this aspect. - AT
Validity of Auction held by the Liquidator - reduced Upset Price - the act of Liquidator stands to be valid as the process was conducted in accordance with the IBBI Rules and Regulations, especially as per Rule 4A and 4B, the Liquidator has power to reduce the Reserve Price by 25% for subsequent action. There is no error in the impugned order w.r.t. this aspect. - AT
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