Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (3) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 90 - Tri - Insolvency and BankruptcyLegality of Liquidation Process - Allegation that the Liquidator did not give opportunity to bid - HELD THAT:- In our considered opinion, we have already permitted M/S Maithan Alloys Ltd. to withdraw from the process because we have accepted some good offer from the applicant in the applicants in CA(IB)No.796/KB/2019 are not complying the order passed by this Authority, they shall be dealt with separately but only for this reason the Liquidator cannot withhold the amount deposited by Maithan Alloys Ltd. - Hence, we direct the Liquidator to pay back sum of ₹ 17,06,25,000/- along with interest agreed thereon within 7 days from today.
|