https://www.taxtmi.com/caselaws?id=279627 The Court found significant irregularities in the sale process, including lack of transparency and failure to involve the Official Liquidator properly. The price realized was not reflective of the property's fair market value. The petitions were allowed, setting aside the DRAT's order dated 3 March 2011. The Recovery Officer was directed to issue a public advertisement for fresh bids, ensuring transparency and adherence to legal norms. The sale process was to be expedited and completed within three months, with costs borne by the secured creditors. en-us Tue, 20 Sep 2011 00:00:00 +0530 Thu, 28 Mar 2019 14:41:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279627 The Court found significant irregularities in the sale process, including lack of transparency and failure to involve the Official Liquidator properly. The price realized was not reflective of the property's fair market value. The petitions were allowed, setting aside the DRAT's order dated 3 March 2011. The Recovery Officer was directed to issue a public advertisement for fresh bids, ensuring transparency and adherence to legal norms. The sale process was to be expedited and completed within three months, with costs borne by the secured creditors. Case-Laws Indian Laws Tue, 20 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279627