https://www.taxtmi.com/caselaws?id=97998 The liquidator's statutory power to sell a company's assets, exercised with prior court sanction, is not curtailed by the articles of association, which regulate members' rights inter se but cannot limit liquidation powers needed to collect assets, pay liabilities, and distribute any surplus. Where the auction was preceded by notices, public publicity, and court approval, and no irregularity in the conduct of the sale was proved, a confirmed sale will not be reopened on allegations of inadequate price or procedural defects. The sale therefore remains valid as an act done under statutory authority and judicial sanction. en-us Thu, 24 Jan 1963 00:00:00 +0530 Wed, 18 Jan 2012 17:29:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97998 The liquidator's statutory power to sell a company's assets, exercised with prior court sanction, is not curtailed by the articles of association, which regulate members' rights inter se but cannot limit liquidation powers needed to collect assets, pay liabilities, and distribute any surplus. Where the auction was preceded by notices, public publicity, and court approval, and no irregularity in the conduct of the sale was proved, a confirmed sale will not be reopened on allegations of inadequate price or procedural defects. The sale therefore remains valid as an act done under statutory authority and judicial sanction. Case-Laws Companies Law Thu, 24 Jan 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97998