https://www.taxtmi.com/caselaws?id=104355 Prospective bidders with no direct lis in the dispute over a company's liquidation sale have no locus standi to be impleaded or heard as interveners, because their role is limited to bidding when the asset is offered for sale. An agreement to sell executed before winding up does not create any interest in immovable property or confer an exclusive purchase right after liquidation. The liquidator and court must sell company assets in a manner that secures the best realizable value for creditors, and a prior unimplemented agreement cannot displace that duty or justify preferential treatment for one claimant. en-us Fri, 18 Sep 1998 00:00:00 +0530 Tue, 28 Feb 2012 17:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104355 Prospective bidders with no direct lis in the dispute over a company's liquidation sale have no locus standi to be impleaded or heard as interveners, because their role is limited to bidding when the asset is offered for sale. An agreement to sell executed before winding up does not create any interest in immovable property or confer an exclusive purchase right after liquidation. The liquidator and court must sell company assets in a manner that secures the best realizable value for creditors, and a prior unimplemented agreement cannot displace that duty or justify preferential treatment for one claimant. Case-Laws Companies Law Fri, 18 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104355