https://www.taxtmi.com/highlights?id=79492 Appellant's challenge to Liquidator's forfeiture of Rs.96 lakh EMD for non-payment of balance amount within stipulated timeline after e-auction of assets was dismissed. E-auction process document clearly allowed forfeiture if successful bidder failed to make complete payment within 90 days. Appellant breached terms by non-payment despite Liquidator's reminders. Issuance of sale certificate was subject to NCLT/NCLAT orders, and delay wasn't Liquidator's deficiency. Appellant wasn't entitled to EMD refund or compensation as claimed. Adjudicating Authority's order upholding Liquidator's actions was upheld. en-us Thu, 18 Jul 2024 06:39:34 +0530 Thu, 18 Jul 2024 06:39:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79492 Appellant's challenge to Liquidator's forfeiture of Rs.96 lakh EMD for non-payment of balance amount within stipulated timeline after e-auction of assets was dismissed. E-auction process document clearly allowed forfeiture if successful bidder failed to make complete payment within 90 days. Appellant breached terms by non-payment despite Liquidator's reminders. Issuance of sale certificate was subject to NCLT/NCLAT orders, and delay wasn't Liquidator's deficiency. Appellant wasn't entitled to EMD refund or compensation as claimed. Adjudicating Authority's order upholding Liquidator's actions was upheld. Highlights Insolvency and Bankruptcy Thu, 18 Jul 2024 06:39:34 +0530 https://www.taxtmi.com/highlights?id=79492