2010 (6) TMI 665

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..... Abdul Rehim, J. This appeal is preferred against order of the Company Court in C.A.337/10 in C.P.11/2003. The appellant herein is a person who had participated in the tender for disposal of assets of the company in liquidation. With respect to the tender, the Official Liquidator had published notices in Malayala Manorama as well as New Indian Express dailies. 12 sealed tenders were .....

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..... Company Court observed that, the belated offer now made by the appellant could not be accepted because such practice will put other persons who participated in the tender to prejudice and if such offers are accepted that will give room for other persons to approach this Court making further offers, which will lead to an endless process. It is also observed that sanctity of the sale through sealed .....

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..... ding of the tender proceedings conducted. The appellant who had actually participated in the tender proceedings could not be permitted to make any higher offer after Completion of all formalities of the tender and after the sealed tenders were opened. Further, we notice that the offer made by the appellant when compared with the highest offer received, is only a marginal increase. 5. Under the a .....

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