https://www.taxtmi.com/caselaws?id=104094 The court upheld the sale transaction of leasehold industrial land and a factory building through a tender process, confirming the acceptance of the highest bid by M/s. Umrao Steels. Allegations of flouting court orders by the purchaser were dismissed as baseless, with the court finding no irregularities in the sale process. The legal standing of applicants challenging the sale was denied, as they failed to meet the necessary criteria. The court emphasized that once a bid is accepted, subsequent higher offers cannot alter the concluded sale, leading to the rejection of requests to consider higher offers. en-us Tue, 09 Feb 1999 00:00:00 +0530 Mon, 27 Feb 2012 16:03:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104094 The court upheld the sale transaction of leasehold industrial land and a factory building through a tender process, confirming the acceptance of the highest bid by M/s. Umrao Steels. Allegations of flouting court orders by the purchaser were dismissed as baseless, with the court finding no irregularities in the sale process. The legal standing of applicants challenging the sale was denied, as they failed to meet the necessary criteria. The court emphasized that once a bid is accepted, subsequent higher offers cannot alter the concluded sale, leading to the rejection of requests to consider higher offers. Case-Laws Companies Law Tue, 09 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104094