https://www.taxtmi.com/caselaws?id=466522 The sale in favour of a defaulting bidder was cancelled and the bidder's earnest money deposit (EMD) forfeited pursuant to enforcement of Clause (11) of the contractual sale terms dated 14 February 2024; that forfeiture is upheld as the operative contractual consequence of bidder default. Separately, two other bidders who did not accept the Official Liquidator's offer are entitled to return of their EMDs. The Official Liquidator's report is disposed accordingly, implementing contractually prescribed remedies for default while restoring deposits to unsuccessful or non-accepting bidders. en-us Thu, 20 Jun 2024 00:00:00 +0530 Tue, 10 Feb 2026 23:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466522 The sale in favour of a defaulting bidder was cancelled and the bidder's earnest money deposit (EMD) forfeited pursuant to enforcement of Clause (11) of the contractual sale terms dated 14 February 2024; that forfeiture is upheld as the operative contractual consequence of bidder default. Separately, two other bidders who did not accept the Official Liquidator's offer are entitled to return of their EMDs. The Official Liquidator's report is disposed accordingly, implementing contractually prescribed remedies for default while restoring deposits to unsuccessful or non-accepting bidders. Case-Laws Companies Law Thu, 20 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466522