Alchemist Asset Reconstruction Company Ltd. v. Sima Hotels and Resort Limited and Ors.

What is this about?

The Delhi High Court allowed the appeal against the award of auction in the matter of the insolvency resolution process. The court quashed the auction and remanded the matter for fresh initiation of auction process in accordance with the law. The said judgment is being cited in this case by the appellant to support their claim for quashing the impugned order passed by the Insolvency and Bankruptcy