The DC noted that e-auction Bid Application Form granted the Liquidator broad discretionary powers to demand documents, accept or reject offers, cancel auctions, and determine the successful bidder. The DC held that these clauses conflicted with the statutory framework under Schedule I of the Liquidation Regulations, which requires transparent, reasoned decisions, including mandatory intimation of reasons when a highest bid is rejected. The second contravention related to the convening of the 6th SCC meeting, without even 24 hours’ notice. Regulations require a minimum five-day notice for meetings, reducible to not less than 24 hours. DC suspended the registration of IP Amresh Shukla for six months.