shall stand forfeited and Corporation may
accept the second highest bidder and call for the payment.
2. Balance amount of Rs.338,00 Lacs shall ... will be open to GSFC to accept the offer of
the second highest bidder and call for payment.
3. The balance amount
shall stand forfeited and Corporation may
accept the second highest bidder and call for the payment.
2. Balance amount of Rs.338,00 Lacs shall ... will be open to GSFC to accept the offer of
the second highest bidder and call for payment.
3. The balance amount
accordance with stipulated
guidelines of RBI to the extent that second highest bidder (H2) i.e., M/s
Serveall Land Developers ... proposal of M/s Serveall
Land Developers Pvt. Ltd. (alleged second highest bidder) was approved.
6. Learned Counsel for the Appellant brought out that
shall issue the letter of intent (LOI) to the
Successful Bidder. The Successful Bidder within two
(2) Working Days from the date issue ... already paid and the property/assets/company may
be offered to second highest bidder or put to re-
auction at sole discretion of the Liquidator
show their
bona fides. Having participated in the auction, both these bidders could
not have withdrawn/retracted from the process or, bid. The auction ... offer is to be placed for consideration of this Court.
The second highest bidder, therefore, cannot take shelter behind the first
highest bidder. Otherwise
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