Latest Judgement : Bombay High Court : Writ Petition under Article 226 seeking the order of NCLT be quashed and set aside. HELD, not maintainable, Dismissed.
In the matter of Kotak Investment Advisors Limited and Anr. Vs. Mr. Krishna Chamadia, Resolution Professional of Ricoh India Limited and Ors. Writ Petition (L) No. 3621 of 2019 1. Petitioner filled Writ Petition under Article 226 of the Constitution of India seeking the relief to issue writ of Certiorari, calling for Company Petition dated 28th November, 2019 hereto be quashed and set aside. 2. It is the case of the petitioner that it participated in Corporate Insolvency Resolution Process of respondent No.1 and submitted its Resolution Plan / Bid. The respondent No.1 accepted the bid of respondent No. 2 after the last date of submission. That was done after the bid of the petitioner was already opened. There is an illegality alleged in the acceptance of the bid of the second respondent. 3. The petitioners state that their bid being the highest, it ought to have been accepted. However, the second highest bid was accepted by the Committee of Creditors. It is...