there is basis” with all its assets, machinery, goodwill and business. The bid was submitted by the applicant on 14th July, 2021 along with all requisite documents and a sum of Rs.11,89,886/- towards payment of earnest money which was specified to be 10% of the Reserved price vide e-mail dated July 16, 2021. The Liquidator informed about the payment of earnest money. It is further submitted by the applicant that on 16th July, 2016, the respondent arranged site visit where respondent was present and pursuant to certain representations made by the respondents, the applicant could not ascertain as to whether the bid involved “sale of Corporate Debtor as a whole, in its totality, except 2 numbers of Buses lying inside the premises in scrapped condition as stated in the E-Auction Process Document or did the bid involve only scrapped machineries and equipment lying at the factory, there was no clarity. In this regard, the applicant issued e-mail dated 17, 2021 seeking clarification regarding the same from the Respondent. The applicant also expressed its dis-interest to go ahead with the bidding if the Corporate Debtor is not transferred “as a whole” along with its identity, assets and goodwill, as the applicant had always intended to run the Corporate Debtor in future.
