https://www.taxtmi.com/caselaws?id=393020 A lead financial creditor was held entitled to maintain an appeal under the insolvency framework because the impugned liquidation orders directly affected its financial stake and the auction outcome. The tribunal further stated that a concluded public auction in liquidation should not be unsettled merely because a later higher offer is made, absent fraud, collusion, or material irregularity. On that basis, interference with the completed sale, withdrawal of the successful bidder, acceptance of the post-auction bid, and refund of the deposit were held unwarranted, and the auction sale in favour of the successful bidder was restored. en-us Wed, 26 Feb 2020 00:00:00 +0530 Tue, 03 Mar 2020 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393020 A lead financial creditor was held entitled to maintain an appeal under the insolvency framework because the impugned liquidation orders directly affected its financial stake and the auction outcome. The tribunal further stated that a concluded public auction in liquidation should not be unsettled merely because a later higher offer is made, absent fraud, collusion, or material irregularity. On that basis, interference with the completed sale, withdrawal of the successful bidder, acceptance of the post-auction bid, and refund of the deposit were held unwarranted, and the auction sale in favour of the successful bidder was restored. Case-Laws Insolvency and Bankruptcy Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393020