https://www.taxtmi.com/caselaws?id=102253 The appeal was dismissed, affirming the company court's decision to accept an offer below the reserve price for the sale of assets to the State of West Bengal. The court emphasized the duty to act in the best interest of creditors, highlighting the importance of confirming sales at reasonable prices. It was noted that no irregularities were raised in compliance with the Companies (Court) Rules, 1959, leading to the acceptance of the highest available offer despite being below the reserve price. en-us Mon, 02 Mar 1992 00:00:00 +0530 Tue, 14 Feb 2012 12:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102253 The appeal was dismissed, affirming the company court's decision to accept an offer below the reserve price for the sale of assets to the State of West Bengal. The court emphasized the duty to act in the best interest of creditors, highlighting the importance of confirming sales at reasonable prices. It was noted that no irregularities were raised in compliance with the Companies (Court) Rules, 1959, leading to the acceptance of the highest available offer despite being below the reserve price. Case-Laws Companies Law Mon, 02 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102253