https://www.taxtmi.com/caselaws?id=104164 The Supreme Court set aside the sale of a company's assets in liquidation due to procedural irregularities and lack of transparency. The Court emphasized the need for obtaining the best possible price to protect creditors' interests. The sale process was criticized for lack of transparency and haste, with concerns raised about the adequacy of the sale price. The Court directed the Official Liquidator to refund the purchase price to the buyer and conduct a fresh sale with proper valuation and advertising. The lease obtained by the purchaser was also invalidated. en-us Tue, 20 Apr 1999 00:00:00 +0530 Tue, 22 Jul 2014 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104164 The Supreme Court set aside the sale of a company's assets in liquidation due to procedural irregularities and lack of transparency. The Court emphasized the need for obtaining the best possible price to protect creditors' interests. The sale process was criticized for lack of transparency and haste, with concerns raised about the adequacy of the sale price. The Court directed the Official Liquidator to refund the purchase price to the buyer and conduct a fresh sale with proper valuation and advertising. The lease obtained by the purchaser was also invalidated. Case-Laws Companies Law Tue, 20 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104164