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Judgment
Ld. Counsel for the parties present.
IA(IBC)412(KB)2022
(a) This application has been filed by the applicant, Bell Finvest (India) Limited, prayingfor quashing and setting aside the e-auction notice and e-auction memorandumbothdated23/04/2022 issued by the respondent no.1.
(b) We have heard the Ld. Counsel for the applicant and the Ld. Counsel appearingforR-1, the Liquidator and R-2, the State Bank of India in full before passing this order.
(c) R-1 has taken valuation of reports of six valuers in respect of the proposed sale of the Corporate Debtor as a going concern, pursuant to regulation 32 of IBBI (Liquidation Process) Regulations, 2016. We find that there is no substance in the arguments of theLd. Counsel for the applicant particularly in view of the fact that the State Bank of India is supporting the action initiated by the Liquidator and has given consent to the Liquidator togo ahead with the sale of the Corporate Debtor. We do not find any substance in the contention of the applicant that instead of Rs.5 Crores the valuation should be Rs.10Crores. Hence, the application is dismissed.