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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Rule 272: Court Approval Required for Sale of Company Assets During Liquidation to Ensure Stakeholder Protection.</h1> Rule 272 of the Company Court Rules, 1959, mandates that any sale of property belonging to a company undergoing court-ordered winding-up must receive prior sanction from the Court. Furthermore, every such sale conducted by the Official Liquidator is contingent upon confirmation by the Court, unless the Court decides otherwise. This rule ensures judicial oversight in the liquidation process to protect the interests of stakeholders involved.
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