https://www.taxtmi.com/caselaws?id=465392 The dominant issue was whether the liquidator could be directed to accept the petitioner's balance sale consideration under the e-auction/letter of intent terms despite the petitioner's non-compliance. The HC noted that relevant auction clauses indicated the petition was not wholly untenable, but held that the impasse was attributable to the petitioner and had led to unnecessary consumption of judicial time. Consequently, the HC directed the liquidator to receive the balance sale consideration only if paid on or before the stipulated date, and made the relief conditional upon payment of costs, to be deposited with the State Legal Services Authority; the writ petition was disposed of on those terms. en-us Thu, 15 Jun 2023 00:00:00 +0530 Fri, 19 Dec 2025 21:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465392 The dominant issue was whether the liquidator could be directed to accept the petitioner's balance sale consideration under the e-auction/letter of intent terms despite the petitioner's non-compliance. The HC noted that relevant auction clauses indicated the petition was not wholly untenable, but held that the impasse was attributable to the petitioner and had led to unnecessary consumption of judicial time. Consequently, the HC directed the liquidator to receive the balance sale consideration only if paid on or before the stipulated date, and made the relief conditional upon payment of costs, to be deposited with the State Legal Services Authority; the writ petition was disposed of on those terms. Case-Laws IBC Thu, 15 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465392