The petition was dismissed with the observation that while selling the assets, the petitioner-company should be given a reasonable opportunity to meet the highest offer.
“In the event the petitioners can give a concrete counter offer equal to or more than the highest offer, it will be open to the respondent no.1 to permit the petitioners to purchase back the property”, the Court said.
Source: https://www.barandbench.com/news/litigation/recovery-of-public-money-cannot-wait-indefinitely-calcutta-high-court
