The Supreme Court ruled that an auction cannot be cancelled just because authorities expected a higher bid. If the highest bid is above the reserve price and the process is lawful, it must be accepted.
The Tamil Nadu State Marketing Corporation (TASMAC) has accused the Enforcement Directorate (ED) of overstepping its authority during raids, claiming procedural violations of the Prevention of Money Laundering Act and infringement on employee privacy. TASMAC argues the ED’s actions were illegal and lacked transparency regarding the reasons for their search and data seizure.
