https://www.taxtmi.com/caselaws?id=757762 NCLAT Principal Bench dismissed appellant's challenge to liquidator's auction sale of 77,500 shares in Alliance Broadband. Tribunal held auction was valid despite appellant's claims of undervaluation and liquidator's initial lack of physical share certificates. Court found shares were properly valued by IBBI registered valuer and sold above book value on "as is where is" basis. Liquidator's authority to auction shares as part of liquidation estate was upheld, and adjudicating authority's direction for share certificate handover was deemed sufficient. Pending right issue challenge had no bearing on completed auction sale. en-us Fri, 30 Aug 2024 00:00:00 +0530 Mon, 02 Sep 2024 08:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757762 NCLAT Principal Bench dismissed appellant's challenge to liquidator's auction sale of 77,500 shares in Alliance Broadband. Tribunal held auction was valid despite appellant's claims of undervaluation and liquidator's initial lack of physical share certificates. Court found shares were properly valued by IBBI registered valuer and sold above book value on "as is where is" basis. Liquidator's authority to auction shares as part of liquidation estate was upheld, and adjudicating authority's direction for share certificate handover was deemed sufficient. Pending right issue challenge had no bearing on completed auction sale. Case-Laws Insolvency and Bankruptcy Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757762