
Forfeiture of Earnest Money Deposit Validated: SC Dismisses Bidder’s Plea in IBC Liquidation Auction
In this judgment delivered by Justice K. Vinod Chandran, the Supreme Court of India upheld the National Company Law Appellate Tribunal’s (NCLAT) decision, which had affirmed the forfeiture of the Earnest Money Deposit (EMD) and additional deposits made by a successful auction bidder under the Insolvency and Bankruptcy Code, 2016






