https://www.taxtmi.com/caselaws?id=103473 A guarantor-shareholder lacked locus standi to challenge sale of a company's mortgaged property because he was neither mortgagor nor mortgagee, had not discharged the debt, and could not invoke the company's separate right of redemption or subrogation. The court also held that an order granting the receiver power of sale was not a nullity where the court had jurisdiction; even if arguably erroneous, it remained binding and could not be treated as void to sale. Acquiescence by the company and official liquidator, together with the belated challenge, further supported rejection of the objection. en-us Thu, 08 Jul 1993 00:00:00 +0530 Thu, 23 Feb 2012 10:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103473 A guarantor-shareholder lacked locus standi to challenge sale of a company's mortgaged property because he was neither mortgagor nor mortgagee, had not discharged the debt, and could not invoke the company's separate right of redemption or subrogation. The court also held that an order granting the receiver power of sale was not a nullity where the court had jurisdiction; even if arguably erroneous, it remained binding and could not be treated as void to sale. Acquiescence by the company and official liquidator, together with the belated challenge, further supported rejection of the objection. Case-Laws Companies Law Thu, 08 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103473