Liquidator acted in undue haste directed to freshly conduct private sale of corporate debtor: NCLT Indore

Hira International Ltd Vs Girdharilal Sugar & Allied Industries Ltd (NCLT Indore) NCLT Indore held that liquidator who acted in undue haste in conducting private sale of the corporate debtor as a going concern in non-transparent manner is directed freshly conduct of bidding in specified manner. Facts- The corporate debtor was admitted under the Corporate Insolvency Resolution Process (“CIRP”). Further vide order dated 21.01.2022 the IRP Mr. Ashish Kanodia was replaced by Mr. Amresh Shukla as a Resolution Professional. The liquidator published an E-auction notice on 10.11.2022 for the ...