No reason to entertain Bid Submitted After scheduled Time: NCLT

Chinar Steel Segments Private Limited Vs Deepika Bhugra Prasad, Liquidator of ESS DEE Aluminium Limited (NCLT Kolkata) The bids were invited on 3rd August, 2022. There was sufficient and reasonable time for any bidder to bid for any Block subject to the eligibility. Admittedly, applicant applied for Block-H and chose to change his mind on the last date to bid for Block A and deposited Rs. One Crore more as EMD ( EMD for Block A was Rs. Five Crore and EMD for Block H was Rs. Four Crore) admittedly after the time fixed i.e. 5:00 P.M. We don’t find any valid reason for seeking to bid for a diff...