https://www.taxtmi.com/caselaws?id=97883 The court validated the sale of a truck by a company in liquidation, finding it bona fide and necessary for the company's operation. The purchaser acted in good faith, paying a higher price due to the truck's permit. The sale proceeds were used to meet the company's liabilities, indicating the transaction's validity. Judicial discretion under Section 536(2) of the Companies Act, 1956, was applied, considering the transaction's benefits to the company. The court ordered the validation of the sale, with the liquidator retaining costs from the assets. en-us Fri, 08 Sep 1961 00:00:00 +0530 Wed, 18 Jan 2012 14:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97883 The court validated the sale of a truck by a company in liquidation, finding it bona fide and necessary for the company's operation. The purchaser acted in good faith, paying a higher price due to the truck's permit. The sale proceeds were used to meet the company's liabilities, indicating the transaction's validity. Judicial discretion under Section 536(2) of the Companies Act, 1956, was applied, considering the transaction's benefits to the company. The court ordered the validation of the sale, with the liquidator retaining costs from the assets. Case-Laws Companies Law Fri, 08 Sep 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97883