Case Law Details
Case Name : Liberty House Group Pte Ltd Vs State Bank of India & Ors. (Delhi High Court)
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All High Courts Delhi High Court
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Liberty House Group Pte Ltd Vs State Bank of India & amp; Ors. (Delhi High Court)
FACTS –
Liberty House approached the high court, seeking that SBI be barred from encashing the bid bond guarantees provided by the U.K.-based investor when bidding for Castex Technologies Ltd. (bid bond guarantees INR 40 Crore) and ARGL Ltd. (bid bond guarantees INR 10 Crore).
In 2017, both the companies entered insolvency resolution proceedings, and in each case the Committee of Creditors (CoC) approved Liberty House as the winning bidder. However, the Liberty (winning bidder) changed its mind and bidder d...
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