Supreme Court of India · 2023-04-27
RAJIV KUMAR vs BCI STAFF COLONY RESIDENTIAL WELFARE ASSOCIATION
- Citation / case number
- SC 2010/17131
- Court
- Supreme Court of India
- Petitioner
- RAJIV KUMAR
- Respondent
- BCI STAFF COLONY RESIDENTIAL WELFARE ASSOCIATION
- Author
- HON'BLE MR. JUSTICE AJAY RASTOGI
- Bench
- HON'BLE MS. JUSTICE BELA M. TRIVEDI HON'BLE MR. JUSTICE AJAY RASTOGI
Judgment text excerpt
The Supreme Court addressed appeals concerning the validity of an auction conducted by the Industrial Development Bank of India for the assets of a sick company, Bharat Commerce & Industries Limited. The High Court had previously set aside the auction, prompting the appeals. The Supreme Court reinstated the auction, emphasizing adherence to the procedural requirements outlined in the Sick Industrial Companies (Special Provisions) Act, 1985, and the necessity of following due process in asset disposal.