https://www.taxtmi.com/caselaws?id=102583 The court confirmed the validity of the land sale to the petitioners, ruling that the land was not a company asset during liquidation. It was established that the managing director had the authority to conduct the sale, emphasizing the importance of company documents in determining such powers. The judgment resolved the ownership dispute over the land by clarifying the managing director's authority to sell company properties for business purposes without explicit board resolutions. en-us Thu, 12 May 1994 00:00:00 +0530 Wed, 15 Feb 2012 13:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102583 The court confirmed the validity of the land sale to the petitioners, ruling that the land was not a company asset during liquidation. It was established that the managing director had the authority to conduct the sale, emphasizing the importance of company documents in determining such powers. The judgment resolved the ownership dispute over the land by clarifying the managing director's authority to sell company properties for business purposes without explicit board resolutions. Case-Laws Companies Law Thu, 12 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102583