SC flags undervaluation, sham auctions under IBC, seeks probe Senior advocate Mukul Rohatgi, appearing for Anil Ambani group, said such a sale was a public process, whether the buyer was a brother or anyone else. But the CJI-led bench said, “Unfortunately, IBC proceedings are misused nowadays. The assets of a company in debt are undervalued. Then it is put on a sham auction and, in a planned manner, a family member or a friend buys it.” #Anil_Ambani #Mukul_Rohatgi #Ambani_group #probe_Senior #Senior_advocate #advocate_Mukul #flags_undervaluation #seeks_probe #public_process #IBC_proceedings
