https://www.taxtmi.com/caselaws?id=103194 Where a winding-up sale of company assets is subject to court confirmation, acceptance of an initial bid does not finally conclude the sale. The court may reopen the auction and consider a higher offer if doing so better secures the most remunerative price for the company, creditors and workmen. Judicial discretion in court-supervised sales is therefore directed to protecting the estate's interests, and a fresh open auction may be permitted even without proof of fraud when confirmation has not yet been granted. en-us Mon, 04 Jan 1993 00:00:00 +0530 Fri, 06 Jun 2014 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103194 Where a winding-up sale of company assets is subject to court confirmation, acceptance of an initial bid does not finally conclude the sale. The court may reopen the auction and consider a higher offer if doing so better secures the most remunerative price for the company, creditors and workmen. Judicial discretion in court-supervised sales is therefore directed to protecting the estate's interests, and a fresh open auction may be permitted even without proof of fraud when confirmation has not yet been granted. Case-Laws Companies Law Mon, 04 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103194