the company is asking liberty house to submit a bank guarantee after emerging as the highest bidder new delhi the national company law appellate tribunal nclat tuesday said it will look into cases where companies file bid to acquire debt ridden firms but fail to pursue itthe appellate tribunal indicated that it may pass an order in this regard where companies file frivolous bids in the corporate insolvency resolution process cirp and then fail to take it forwardwe would decide that what action should be taken against such companies said a two member nclat bench headed by chairman justice s j mukhopadhaya advt nclats observation came during the hearing of argl ltd a subsidiary of debt ridden auto components maker amtek where ukbased liberty house has emerged as the highest bidderthe company is asking liberty house to submit a bank guarantee after emerging as the highest bidderhowever senior advocate a s chandiok representing liberty house submitted that there are three group companies of amtek and it would be economical and feasible for the group only if it gets all the three companiesaccording to him all the three companies where it is a resolution applicant were inter dependent on each otherhe also requested the appellate tribunal to move the resolution process all together before one benchif they are simultaneously resolved then we are ready for that he addedhowever the bench was not inclined towards this and said it can not be conditionalthe appellate tribunal has directed to list the matter of argl on february 5 2019 for next hearing pti published on jan 22 2019 at 0938 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app frivolous bids liberty house nclat liberty house group cirp homenewsindustrynclat may look in issue of frivolous bids under cirp