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Judgment
Heard Learned Counsel for the parties.
This Appeal has been filed against the order dated 23.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench (Court-II) by which order I.A 2357 of 2021 filed by the Appellant has been rejected. The Appellant by the I.A has made following prayers:-
“A. Pass an order restraining the Liquidator to continue with the fresh Auction Sale of the concerned property issued on 22.05.2021 and
B. Pass an Order directing the Liquidator to revive the original bid deposited by the Applicant and complete the auction sale in favour of the Applicant expeditiously including by issuing a sale certificate with regard to the property being Factory measuring 26,752 Sq. ft. constructed on land measuring 43,056 Sq. ft. situated at Plot No. E-928 at Riico Industrial Area, Bhiwadi District Alwar, Rajasthan, for which the Applicant was a successful bidder.”
In the present case, the Appellant was highest bidder in auction held on 18.08.2020. The Liquidator subsequently cancelled the auction and refunded the EMD in October, 2020 to the Appellant. The entire amount was received back by the Appellant. There was an interim order by the Hon’ble Supreme Court in the liquidation proceedings in an Appeal which subsequently was dismissed on 01.03.2021. The Liquidator thereafter issued a fresh auction sale notice on 22.05.2021 which was challenged by the Appellant before the Adjudicating Authority.
Learned Counsel for the Appellant submits that by the Application he wanted to revive his earlier auction and has opposed the issue of fresh notice for auction. Learned Counsel for the Appellant submits that auction in which he was the highest bidder ought to be finalized and he be issued sale certificate. The Adjudicating Authority has rejected the Application.
From the materials on record, it is clear that the auction in which Appellant was the highest bidder was cancelled by the Liquidator and the entire amount received was refunded in October, 2020. The said action was never challenged by the Appellant. The Appellant filed IA when the fresh auction notice was issued only on 22.05.2021. Now, the Appellant cannot claim revival of auction in which he was the highest bidder which has already been cancelled. The Appellant at best can also participate in pursuance of the fresh auction which was initiated by the Liquidator. Learned Counsel submits that the auction has not yet taken place.
With these observations, the Appeal is dismissed.