Back
IN THE HIGH COURT OF DELHI AT NEW DELHI
SACHIN DATTA
Jfc Finance (India) Limited – Appellant
Versus
Arvind Garg Liquidator Of Moser Baer Solar Ltd – Respondent
JUDGMENT :
SACHIN DATTA, J.
1. The present petition has been filed by the petitioner alleging wilful disobedience by respondent no.1 of the undertaking/statement made by the said respondent before this Court, as recorded in the order dated 09.04.2025 passed in W.P.(C) 4634/2025. The said order dated 09.04.2025 records as under:
“1. In the present petition, the petitioner entity seeks to participate in the process of sale of M/s Moser Baer Solar Ltd. (hereinafter referred to as ‘MBSL’) as a going concern under the provisions of the Insolvency and Bankruptcy Code, 2016.
2. It is submitted that the petitioner was one of the shortlisted participant in the process of sale of MBSL as a going concern, but the right of participation has been virtually taken away from the petitioner on account of the fact that the petitioner did not receive any link or instruction/notification for participating in the pre-qualification proceedings.
3. It is further submitted that the petitioner had fulfilled all mandatory requirements of registering as a buyer, including deposit of Earnest Money Deposit (EMD) and uploading all relevant documents. However, it is contended that it was only in the absence of any sp
The liquidator must adhere to court undertakings during liquidation procedures, and the court may mandate re-auction to maximize asset value, emphasizing compliance with regulatory frameworks.
Secured creditors must notify their decision to relinquish security interest within the stipulated time; failure to do so results in assets being included in the liquidation estate.
A review petition under Section 114 CPC must show an error apparent on record; the court affirmed the original order without finding grounds for alteration or fraud.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
