Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 2008 (5) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (5) TMI 418 - SC - Companies LawWhat would be the appropriate time to be given to the bidders for submitting bids after publication of the notice inviting bids? Whether it will be admissible to break up the shares into appropriate groups and to give options to the bidders to bid either for whole lot or for a limited number of groups? Held that:- Appeal dismissed. One thing is certain that the sale, as well as the decision to make the sale at a particular time, stand frustrated because of the lapse of time. The whole procedure for sale of shares will have to be repeated now, meaning thereby, that the Disposal Committee would have to take a fresh decision in the light of the directions given by the Special Court, which are the correct directions. That shall be done at the opportune time. If the appellants so feel, they would be at liberty to put their objections subject to what has already been said in this judgment. The appeals are dismissed with the above observations under the circumstances. The cost is quantified at Rs. 2 lakhs.
|