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High Court of Karnataka Allows Liquidator's Appeal, Upholds Forfeiture of EMD and PDM for Default by Successful Bidder in Liquidation Sale. Writ Petitioner's Failure to Pay Balance Sale Consideration Within Stipulated Time Justified Forfeiture Under IBC Regulations.

The appellant, Sri Pankaj Srivastava, Liquidator of M/s Samrudhi Realty Ltd., appealed against an order dated 12.12.2024 passed by a learned Single Ju...

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Supreme Court Upholds Tender Award in E-Auction Dispute Due to Technical Glitch and Lack of Arbitrariness. Connectivity failure at service provider's end justified resumption of auction; High Court's interference in commercial decision set aside.

The Supreme Court allowed the appeals filed by Bharat Coking Coal Ltd. (BCCL) against the judgment of the Jharkhand High Court, which had quashed the ...

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Bombay High Court Dismisses Petition Challenging E-Auction of Sand Ghats — Time-Limited Auction Process Upheld as Valid. Court holds that introduction of time limit in e-auction is not arbitrary and that disconnection of internet link does not vitiate auction when petitioner failed to report promptly.

The petitioner, Arunodaya Magaswargiya Mazdoor Kamgar Sahakari Sanstha Ltd., a labour cooperative society registered under the Maharashtra Cooperative...

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Supreme Court Quashes High Bid in Mining Lease e-Auction, Orders Fresh Auction and Penalty. Supreme Court finds error in 140.10% bid to be a genuine mistake, mandates a fresh e-auction while imposing a Rs 3 crore penalty on appellant for lack of due care.

Granted leave to appeal against the judgment of the High Court of Orissa, which dismissed the writ petition of the appellant who had mistakenly placed...

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Supreme Court Quashes Criminal Proceedings Against Bank Officers in SARFAESI Act Loan Recovery Dispute. Civil Nature of Transaction Precludes Criminal Prosecution Under Sections 406, 409, 420 IPC.

The Supreme Court allowed the appeal filed by K. Virupaksha and another, who were Deputy General Managers of Canara Bank, against the order of the Kar...

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Bombay High Court Quashes Cancellation of Sand Ghat Allotments in Re-auction Dispute — Violation of Natural Justice and Lack of Hearing. The court held that cancellation of allotment without notice and hearing is arbitrary and unsustainable under Article 226 of the Constitution of India.

The petitioners, five proprietors of firms, were allotted sand ghats through an auction process. However, the respondents issued a re-auction notice o...

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Bombay High Court Dismisses Petitioners' Challenge to Cancellation of Sand Ghat Leases for Non-Deposit of Balance Amount. Failure to Deposit 75% of Bid Amount Within 30 Days as per Government Resolution dated 12.03.2013 Justifies Cancellation and Re-auction.

The petitioners, seven individuals and firms, participated in an e-auction conducted on 07.12.2013 for the grant of leases of 73 sand ghats in Bhandar...