https://www.taxtmi.com/caselaws?id=466295 Challenge concerned whether the liquidator complied with prescribed auction procedures and whether reduction in reserve price and subsequent sale breached the Liquidation Regulations. Tribunal found no documentary basis of violation of Regulations 32-35 or the Schedule I mode of sale; the auction proceeded on the stated date, full sale consideration was received and a sale certificate issued, and the appellant had participated in Stakeholders Consultation Committee meetings. Because the appellant was aware of proceedings, delay and board-approval processes did not excuse late challenge, and the appeal was dismissed for lack of merit. en-us Fri, 15 Sep 2023 00:00:00 +0530 Sun, 01 Feb 2026 19:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466295 Challenge concerned whether the liquidator complied with prescribed auction procedures and whether reduction in reserve price and subsequent sale breached the Liquidation Regulations. Tribunal found no documentary basis of violation of Regulations 32-35 or the Schedule I mode of sale; the auction proceeded on the stated date, full sale consideration was received and a sale certificate issued, and the appellant had participated in Stakeholders Consultation Committee meetings. Because the appellant was aware of proceedings, delay and board-approval processes did not excuse late challenge, and the appeal was dismissed for lack of merit. Case-Laws IBC Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466295