SUL INDIA LIMITED Vs. BANK OF INDIA

JUDGEMENT

(1.) THE report of O. L. (O. L. R. No. 21) perused.

(2.) THE question that arises for consideration is whether a bid received for Rs. 2,66,00,000/- for the sale of the assets of the company in liquidation deserves to be accepted by according sanction by this Court.

(3.) IN this connection, I may refer to on the previous two orders passed by this Court on this very issue and in particular order, dated 24. 6. 2003 and 8. 8. 2003. These two orders in detail takes into account all facts and circumstances appearing in the case. I, therefore, need not repeat the entire background of the case in this order once the same is detailed in the previous orders.