2024 (7) TMI 1583

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..... on in view of the fact that the order of the Recovery Officer cancelling the auction has been fully affirmed by the High Court. The auction property has been restored to its original status and is now subject to such orders that may be passed by NCLT/NCLAT in the pending proceedings. The petitioner shall be at liberty to apprise the Tribunals about the estimated market value of the property and an .....

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..... in support of his prayer that the High Court ought to have ordered a probe into the allegation of collusion between the bank officials and the auction purchaser. He has highlighted various circumstances in order to impress upon that the auction was a managed show, it lacked transparency and it was an covert attempt to grab the mortgaged property at a highly low rate. We are, however, not inclined .....

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