2023 (3) TMI 1476

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....No. 507, 511 of 2023 - -<br>Insolvency & Bankruptcy<br>[ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Mr. Abhijeet Sinha, Mr. Kumar Anurag Singh, Mr. Zain A Khan, Advocates For the Respondent : Mr. Gaurav Mitra, Mr. NPS Chawla, Mr. Ishan Roy Choudhury, Advocates for Successful Bidder. Mr. Manuj Nagarth, Mr. S. Vinod, Advocate for Mr. Navneet ....

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....he Applications have been rejected by the impugned Order. 3. Mr. Abhijeet Sinha, Learned Counsel for the Appellant submits that the property was a leased property from the Chandigarh Administration and there was no permission taken from the Chandigarh Administration for transfer of the property. He further submits that under Regulation 32-A (4), if the sale of the corporate debtor is not done wit....

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.... 6. Learned Counsel - Mr. Gaurav Mitra for the Respondent submits that present is a case where lease deed continues in the name of Corporate Debtor hence what is sold is the shares of the corporate debtor. 7. Be that as it may, we do not find any error in the carrying out auction of the corporate debtor as going concern. 8. Further submission is that under Regulation 32A sub-clause 4, auction di....