2010 (6) TMI 665

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....y Court in C.A.337/10 in C.P.11/2003. The appellant herein is a person who had participated in the tender for disposal of assets of the company in liquidation. With respect to the tender, the Official Liquidator had published notices in 'Malayala Manorama' as well as 'New Indian Express' dailies. 12 sealed tenders were received. The highest among them was Rs. 1,62,88,000. The Official Liquidator f....

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....t be accepted because such practice will put other persons who participated in the tender to prejudice and if such offers are accepted that will give room for other persons to approach this Court making further offers, which will lead to an endless process. It is also observed that sanctity of the sale through sealed tenders has to be approved and the proceedings of sale held by the Official Liqui....