Bid as ‘Going Concern’ to be Given Preference over Standalone Bid for Corporate Debtor

Arrhum Tradelink Pvt Ltd Vs Vineeta Maheshwari Liquidator of Kaneria Granito Ltd & Anr (NCLT Ahmedabad) In this case, the applicant and successful bidder offered the same price. The only difference is that at 3.21 pm, the successful bidder had offered Rs. 38.40 Crores and at 3.23 pm, the applicant offered the same amount whereas one of the conditions of e-auction was that a person taking part in the auction process has to offer Rs. 5 Lakh more than what has been offered by the earlier bidder. In this case, Respondent No. 3 has offered Rs. 38.40 Crores, the same is offered within two minute...