https://www.taxtmi.com/caselaws?id=99124 Rule 139 of the Companies (Court) Rules, 1959 was not treated as the exclusive mode for seeking directions on liquidation sales, because rule 10 and rule 6 preserved the court's power to act on the official liquidator's report where parties had been heard and no substantial injustice was shown. In company liquidation, a sale by the official liquidator is subject to court supervision, and confirmation depends on whether the price reflects adequate market value. The sanction of sale to the highest tenderer was set aside because the accepted price was found inadequate and a fresh public auction was directed. Objections to maintainability were rejected where the appeal could proceed through the successor company under the amalgamation scheme. en-us Fri, 22 Feb 1974 00:00:00 +0530 Wed, 25 Jan 2012 12:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99124 Rule 139 of the Companies (Court) Rules, 1959 was not treated as the exclusive mode for seeking directions on liquidation sales, because rule 10 and rule 6 preserved the court's power to act on the official liquidator's report where parties had been heard and no substantial injustice was shown. In company liquidation, a sale by the official liquidator is subject to court supervision, and confirmation depends on whether the price reflects adequate market value. The sanction of sale to the highest tenderer was set aside because the accepted price was found inadequate and a fresh public auction was directed. Objections to maintainability were rejected where the appeal could proceed through the successor company under the amalgamation scheme. Case-Laws Companies Law Fri, 22 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99124