https://www.taxtmi.com/caselaws?id=755715 Where attached assets were spread across multiple States and ordinary forums lacked the practical infrastructure for timely liquidation and restitution, the Court invoked Article 142 to constitute a High-Powered Sale Committee, empower it to liquidate the properties through a transparent auction process, and direct a structured refund mechanism for genuine investors. It also fixed remuneration and incidental expenses for the Committee's personnel, with costs to be met from sale proceeds, while leaving some fees to be determined by the Committee. In aid of implementation, interim bail was granted to two petitioners subject to the MPID Court's satisfaction. en-us Mon, 15 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755715 Where attached assets were spread across multiple States and ordinary forums lacked the practical infrastructure for timely liquidation and restitution, the Court invoked Article 142 to constitute a High-Powered Sale Committee, empower it to liquidate the properties through a transparent auction process, and direct a structured refund mechanism for genuine investors. It also fixed remuneration and incidental expenses for the Committee's personnel, with costs to be met from sale proceeds, while leaving some fees to be determined by the Committee. In aid of implementation, interim bail was granted to two petitioners subject to the MPID Court's satisfaction. Case-Laws SEBI Mon, 15 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755715