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2021 (8) TMI 988 - NATIONAL COMPANY LAW TRIBUNAL , KOLKATA BENCHScope of Company - company within the meaning of the Companies Act, 2013 - whether the Liquidator was justified in cancelling the e-auction after the auction was successfully concluded and the highest bidder stood identified? - HELD THAT:- There was no reason for the Liquidator to cancel the e-auction under consideration in the present matter especially when we see that the two earlier rounds of the auction process did not fructify and the reserve price had to be decreased on each auction. There is no material on record to sustain the perception of the Liquidator that cancelling the present auction would have resulted in a better price for the assets in question. There cannot be an endless wait to get the best price for the asset, especially when there is no material to support a conjecture that there may be a better price for the asset. Application disposed off.
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