https://www.taxtmi.com/caselaws?id=311290 Review or recall of a confirmed auction sale is confined to the narrow grounds under Order 47 Rule 1 CPC, namely discovery of new and important matter, error apparent on the face of the record, or another sufficient reason of the same kind. A later higher composite offer is not, by itself, a basis to reopen a concluded sale. Interference with an auction sale also requires a pleaded and proved case of material irregularity or fraud causing substantial injury, which was absent here. The Court further noted that the movable assets had remained idle and depreciating, and that unsettling the completed transaction would prejudice secured creditors and workmen, so the application was rejected. en-us Fri, 05 Nov 2004 00:00:00 +0530 Mon, 18 Dec 2023 12:42:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311290 Review or recall of a confirmed auction sale is confined to the narrow grounds under Order 47 Rule 1 CPC, namely discovery of new and important matter, error apparent on the face of the record, or another sufficient reason of the same kind. A later higher composite offer is not, by itself, a basis to reopen a concluded sale. Interference with an auction sale also requires a pleaded and proved case of material irregularity or fraud causing substantial injury, which was absent here. The Court further noted that the movable assets had remained idle and depreciating, and that unsettling the completed transaction would prejudice secured creditors and workmen, so the application was rejected. Case-Laws VAT and Sales Tax Fri, 05 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311290