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National News

The Times of India

National / The Times of India

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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.

5 Feb 2026 4:16 am