TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the Adjudicating Authority was justified in permitting a composite sale of the corporate debtor's 260 sq. yards plot along with the promoters' 1400 sq. yards plots under the SARFAESI regime.
Analysis: The property was treated as a composite one and, on the facts of the case, the two components were found to be not separable. The joint sale was considered capable of fetching maximum revenue, which would benefit the liquidation estate. The amount attributable to the corporate debtor's share was directed to be transferred to the Liquidator, ensuring that the corporate debtor would not suffer prejudice from the sale arrangement.
Conclusion: The composite sale was upheld and no illegality was found in the direction permitting joint sale under the SARFAESI Act. The appeal failed, while the appellants were left free to pursue their pending Section 17 remedy before the DRT.
TaxTMI 
TaxTMI 
