https://www.taxtmi.com/caselaws?id=97607 A member of a committee of inspection in a company winding up is treated as occupying a fiduciary position because the committee assists the liquidator in administering and realising assets. On that footing, the member is disabled by equitable principle from purchasing company property, directly or through a benamidar, unless there is full disclosure and consent. The note states that this restraint does not depend solely on express statutory prohibition and applies even where the price is fair. It further states that, without such disclosure, the official liquidator may recover the property. en-us Tue, 09 Sep 1958 00:00:00 +0530 Tue, 17 Jan 2012 14:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97607 A member of a committee of inspection in a company winding up is treated as occupying a fiduciary position because the committee assists the liquidator in administering and realising assets. On that footing, the member is disabled by equitable principle from purchasing company property, directly or through a benamidar, unless there is full disclosure and consent. The note states that this restraint does not depend solely on express statutory prohibition and applies even where the price is fair. It further states that, without such disclosure, the official liquidator may recover the property. Case-Laws Companies Law Tue, 09 Sep 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97607