2023 (6) TMI 1516

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.... C.M. POONACHA For the Petitioner: (By Sri. Dhyan Chinnappa, Sr. Counsel for Sri. Sundara Raman M V., Advocate) For the Respondent: (By Smt. Lakshmi Menon, Advocate.). ORDER Heard the learned Senior counsel Sri Dhyan Chinnappa along with Sri Sundara Raman M V for the petitioner. The learned counsel Smt. Lakshmi Menon takes notice on behalf of the liquidator, the respondent herein. 2....

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....id not find favour with the NCLT, the application for liquidation of the Corporate Debtor came to be allowed on 26.04.2022 and at which time the respondent was appointed as the liquidator. Consequently the assets of the Corporate Debtor including the asset at Hosur was put up for e-auction under the sale notice published on date 13.02.2023. The date of e-auction was fixed as 20.03.2023. Pursuant t....

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....ess within the stipulated time as noted supra. 5. It is his case that the liquidator having filed the application on his instance is now reluctant to abide by the conditions of sale as the liquidator is apprehensive about the reaction of the NCLT bench in trying to comply with the sale conditions. It is submitted that, after the 18th of June, the application would be rendered infructuous. 6.....

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.... would abide by the conditions imposed under the e-auction notice. 8. The submission of the learned Senior counsel is placed on record. The learned counsel for the respondent liquidator submits that she is willing to receive the amounts as stipulated as per the letter of intent dated 20.03.2023. Copy of the letter of intent is also placed before this Court by the respondent and the same is take....