https://www.taxtmi.com/caselaws?id=751452 NCLAT upheld the Adjudicating Authority's direction for conducting a fresh auction using Swiss Challenge Method for corporate debtor's assets. The tribunal rejected the appellant's challenge to the Swiss Challenge Method, confirming that the liquidator must issue a corrigendum within two weeks to conduct e-auction. The successful bidder from previous auction was granted anchor bid status, with their bid protected if no higher offer emerges. The tribunal directed that winning bidder must pay all MIDC dues and transfer charges directly to MIDC. en-us Tue, 16 Apr 2024 00:00:00 +0530 Wed, 17 Apr 2024 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751452 NCLAT upheld the Adjudicating Authority's direction for conducting a fresh auction using Swiss Challenge Method for corporate debtor's assets. The tribunal rejected the appellant's challenge to the Swiss Challenge Method, confirming that the liquidator must issue a corrigendum within two weeks to conduct e-auction. The successful bidder from previous auction was granted anchor bid status, with their bid protected if no higher offer emerges. The tribunal directed that winning bidder must pay all MIDC dues and transfer charges directly to MIDC. Case-Laws Insolvency and Bankruptcy Tue, 16 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751452