NCLAT Accepts Private Sale in Favor of Appellant

Kuldeep Singh & Anr Vs Manjul Mittal Liquidator, Sainsons Pulp and Papers Ltd. (NCLAT) The NCLAT has accepted the private sale in favor of Kuldeep Singh & Anr in a case against the liquidator of Sainsons Pulp and Papers Ltd. The appeal was filed against the termination and forfeiture of the auction bid. The appellant, the highest auction purchaser, failed to make the full payment within the specified timeframe but later deposited the entire balance amount with interest as directed by the NCLAT. The NCLAT concluded that no useful purpose would be served by unsettling the private sale a...