JUDGMENT

ASHOK BHUSHAN, J.

This Appeal by a Successful Auction Purchaser has been filed challenging order dated 09.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, Prayagraj rejecting IA No.226/2022 filed by the Appellant challenging the action of the Liquidator forfeiting EMD of Rs.96 Lakhs pursuant to e-auction of the assets of JVL Agro Industries Ltd. Further, direction was sought to refund the amount of Rs.98 Lakhs along with compensation /damages caused to the applicant due to non-issuance of Sale Certificate. Brief facts of the case necessary to be noticed for deciding this appeal are:

(i) JVL Agro Industries Ltd. was directed to be liquidated by order of the Adjudicating Authority dated 19.08.2020. The Liquidator in pursuance of order of liquidation issued public notice for sale as a going concern, which auction having failed, a public notice dated 04.03.2022 was issued by the liquidator for sale of stand-alone assets (A-1 to A-11) of the Corporate Debtor. A-11 was old expired stocks of more or less 1000 tons of packed Refined Edible Oil, not fit for human consumption, lying at JVL’s plant at Deoghat, District Purba Medinpur, Haldia