https://www.taxtmi.com/caselaws?id=103077 The SC held the successful bidder's default and sham transfers justified piercing the corporate veil, treating the contested property as belonging to the bidder's principals and continuing attachment. The lessee (foreign mission) was directed to deposit monthly rent in court; the principals must deposit Rs.10 crore within two months or the property will be sold. Existing attachments of related properties remain in force, subject to bona fide sale proposals conditioned on depositing proceeds in court. A one-man commission was appointed to identify post-cutoff purchasers and amounts paid. The orders aim to reimburse defrauded purchasers and prevent the contemnors benefitting from their fraud. en-us Mon, 06 May 1996 00:00:00 +0530 Wed, 15 Oct 2025 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103077 The SC held the successful bidder's default and sham transfers justified piercing the corporate veil, treating the contested property as belonging to the bidder's principals and continuing attachment. The lessee (foreign mission) was directed to deposit monthly rent in court; the principals must deposit Rs.10 crore within two months or the property will be sold. Existing attachments of related properties remain in force, subject to bona fide sale proposals conditioned on depositing proceeds in court. A one-man commission was appointed to identify post-cutoff purchasers and amounts paid. The orders aim to reimburse defrauded purchasers and prevent the contemnors benefitting from their fraud. Case-Laws Indian Laws Mon, 06 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103077