Sanctity of order of court matters rather than higher bid offered at a later stage after the bid was accepted

HIGH COURT OF KARNATAKA P.S.G. Krishnan Versus Official Liquidator of Rekha Cements and Chemical Ltd. (In Liqn.) CO. APPLICATION NOS. 1258 1259, 1284 & 1285 OF 2012 CO. PETITION NOS. 67 & 105 OF 1995 OCTOBER 17, 2012 ORDER 1. By order dated 01.10.2012, the company properties were auctioned in the open Court from among the persons who are present in pursuance to the Court notice. There was a valuation report dated 05.08.2010, since, the said report was a year old, a fresh report was sought, accordingly a fresh valuation report dated 15.09.2012 in a sealed cover was subm...