https://www.taxtmi.com/caselaws?id=97607 Members of a committee of inspection in company winding up act in a fiduciary capacity because they assist and supervise the liquidator in administering and realising company assets. Equitable principles therefore prevent them from purchasing those assets, whether directly or through a benamidar, unless full disclosure is made to the liquidator and consent is obtained. This disability applies independently of any express statutory or rule-based prohibition and is not cured by payment of a fair price. Property acquired without the required disclosure may be recovered by the official liquidator. 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 Members of a committee of inspection in company winding up act in a fiduciary capacity because they assist and supervise the liquidator in administering and realising company assets. Equitable principles therefore prevent them from purchasing those assets, whether directly or through a benamidar, unless full disclosure is made to the liquidator and consent is obtained. This disability applies independently of any express statutory or rule-based prohibition and is not cured by payment of a fair price. Property acquired without the required disclosure may be recovered by the official liquidator. Case-Laws Companies Law Tue, 09 Sep 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97607