https://www.taxtmi.com/caselaws?id=97304 A bona fide private sale by a receiver appointed under a debenture was not liable to be set aside merely because publicity was limited or a higher price might later have been obtained; absent fraud or lack of bona fides, irregularity in notice did not defeat the sale. The winding-up provisions of the Companies Act did not render the sale void, because a private sale by a secured creditor or receiver under a contractual power of sale is not a legal proceeding and is not a sale "held" without leave of court. The preferential claims and floating-charge provisions also did not invalidate the transaction, since the charge had crystallised when the receiver took possession before winding up. en-us Fri, 24 Sep 1954 00:00:00 +0530 Mon, 16 Jan 2012 12:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97304 A bona fide private sale by a receiver appointed under a debenture was not liable to be set aside merely because publicity was limited or a higher price might later have been obtained; absent fraud or lack of bona fides, irregularity in notice did not defeat the sale. The winding-up provisions of the Companies Act did not render the sale void, because a private sale by a secured creditor or receiver under a contractual power of sale is not a legal proceeding and is not a sale "held" without leave of court. The preferential claims and floating-charge provisions also did not invalidate the transaction, since the charge had crystallised when the receiver took possession before winding up. Case-Laws Companies Law Fri, 24 Sep 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97304