Though it was accepted by the official liquidator, he did not hand over possession of the property. Instead, a new bid was called. Another firm bought it for Rs 3.5 crore. FCS Software challenged this action of the liquidator as "mala fide and with oblique motive". However, the Punjab and Haryana high court rejected its argument. Its appeal to the Supreme Court also failed as the liquidator acted legally by calling a new bid to fetch more money. However, he has been arrested for corruption by the CBI and prosecution is pending.
Plot owner can sue builder
The Supreme Court held last week that a land owner who enters into an agreement with a builder for construction of an apartment building and for sharing of the constructed area, is a
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