M/s ASJ Finsolutions Pvt Ltd v. Vikram Bajaj
2026 INSC 106228 September 202610 min read
Supreme Court Upholds Forfeiture of EMD for Failure to Pay Balance Auction Consideration in Liquidation
The Supreme Court upheld the forfeiture of the successful bidder's EMD and deposits for failure to pay the balance sale consideration within the stipulated period in a liquidation auction.
Case Snapshot
- Case Name
- M/s ASJ Finsolutions Pvt. Ltd. v. Vikram Bajaj
- Citation
- 2026 INSC 1062 (Non-Reportable)
- Bench
- Justice J.B. Pardiwala and Justice K. Vinod Chandran
- Date of Judgment
- September 28, 2026
- Area of Law
- Insolvency and Bankruptcy Code, 2016 — Liquidation Process — E-Auction — Forfeiture of Earnest Money Deposit — Triple Test
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