https://www.taxtmi.com/caselaws?id=101858 Under rules 272 and 273 of the Companies (Court) Rules, 1959, the company court controls the sale and confirmation of assets in liquidation, and its discretion will be disturbed only if exercised on wrong principles or without regard to relevant facts. Where the sale was widely publicised, the reserve price was fixed and enhanced, bidding was permitted in court, and the final price was found adequate, a later higher offer by an outbid bidder did not justify reopening or deconfirming the sale. In the stated facts, there was no fraud or irregularity, the appellant had a full opportunity to bid, and the confirmed sale in favour of the first respondent was upheld. en-us Tue, 06 Mar 1990 00:00:00 +0530 Sat, 11 Feb 2012 13:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101858 Under rules 272 and 273 of the Companies (Court) Rules, 1959, the company court controls the sale and confirmation of assets in liquidation, and its discretion will be disturbed only if exercised on wrong principles or without regard to relevant facts. Where the sale was widely publicised, the reserve price was fixed and enhanced, bidding was permitted in court, and the final price was found adequate, a later higher offer by an outbid bidder did not justify reopening or deconfirming the sale. In the stated facts, there was no fraud or irregularity, the appellant had a full opportunity to bid, and the confirmed sale in favour of the first respondent was upheld. Case-Laws Companies Law Tue, 06 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101858