Questions before Appellate Tribunal (I) Whether the Auction held by the Liquidator, without proper Notice to Shareholders/Stakeholders of the Company is valid in accordance with the IBBI Rules and Regulations, 2016? (II) Whether Sale was valid, when Payment from Auction Purchaser is not received within 90 days. Can any extension be granted for the same? (III) Whether the act of Auctioneer to Sell the Property at Revised and Reduced upset price can be treated as valid? (IV) Whether the Liquidator was justified in selling the entire Assets of the company when Sale of a part of the Assets of the Company would have been sufficient to discharge the liability of the company? (V) Whether the Liquidator was justified in conducting the Auction Proceedings without forming the Committee of Stakeholders, as envisaged under the Code, 2016? (VI) Whether the Adjudicating Authority can review its own order?
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