https://www.taxtmi.com/caselaws?id=781492 NCLAT held that the bidder challenging the private Swiss-challenge sale had locus to sue, noting compressed timelines, a withheld Process Document and restrictive EMDs which impeded genuine participation and advantaged the anchor bidder. The Tribunal found the Liquidator should have obtained prior permission of the Adjudicating Authority under Reg.33(2)(d) before conducting the private sale, but there was insufficient material to infer collusion between the anchor bidder and the major creditor. The public notice was set aside; the private sale was approved subject to fresh national/vernacular notices and reasonable EMD fixation. Appeal disposed. en-us Thu, 06 Nov 2025 00:00:00 +0530 Mon, 17 Nov 2025 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781492 NCLAT held that the bidder challenging the private Swiss-challenge sale had locus to sue, noting compressed timelines, a withheld Process Document and restrictive EMDs which impeded genuine participation and advantaged the anchor bidder. The Tribunal found the Liquidator should have obtained prior permission of the Adjudicating Authority under Reg.33(2)(d) before conducting the private sale, but there was insufficient material to infer collusion between the anchor bidder and the major creditor. The public notice was set aside; the private sale was approved subject to fresh national/vernacular notices and reasonable EMD fixation. Appeal disposed. Case-Laws IBC Thu, 06 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781492