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[Cites 0, Cited by 0] [Section 457] [Entire Act]

Union of India - Subsection

Section 457(2E) in The Companies Act, 1956

(2E)Every bidder shall, in response to advertisement referred to in clause (c) of sub-section (2-A), deposit, his offer in the manner as may be prescribed, with Liquidator or provisional Liquidator, as the case may be, within forty-five days from the date of the advertisement and the Liquidator or provisional Liquidator shall permit inspection of property and assets in respect of which bids were invited:Provided that such bid may be withdrawn within three days before the last day of closing of the bid:Provided further that the inspection of property shall be open for not more than five days before closing of the bid.