https://www.taxtmi.com/caselaws?id=111252 A court-supervised auction participant was held entitled to be heard before termination of the sale process, because the bidder was directly affected by the court's change in course and was not a stranger to the proceedings. The cancellation of the sale notification and termination of the auction were found unwarranted where no feasible revival proposal had been placed before the court and the sale itself was not shown to be irregular; the appropriate course was to keep the proceedings in abeyance pending proper consideration of revival. The bid was not confirmed, as delay, changed market conditions, and valuation concerns required further examination by the company court. en-us Fri, 30 Mar 2007 00:00:00 +0530 Sat, 21 Apr 2012 13:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111252 A court-supervised auction participant was held entitled to be heard before termination of the sale process, because the bidder was directly affected by the court's change in course and was not a stranger to the proceedings. The cancellation of the sale notification and termination of the auction were found unwarranted where no feasible revival proposal had been placed before the court and the sale itself was not shown to be irregular; the appropriate course was to keep the proceedings in abeyance pending proper consideration of revival. The bid was not confirmed, as delay, changed market conditions, and valuation concerns required further examination by the company court. Case-Laws Companies Law Fri, 30 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111252