https://www.taxtmi.com/caselaws?id=104504 The court granted State Bank of India's application to sell the assets of Aryodaya Ginning & Mfg. Co. Ltd., forming a sale committee to manage the process. Despite objections from Textile Labour Organisation, the court emphasized the need to expedite the winding-up proceedings due to slim chances of company revival. The decision aimed to ensure dues were paid to secured creditors and workmen, balancing their interests while acknowledging the company's financial difficulties. The implementation of the order was delayed for six weeks to allow for any challenges by the Textile Labour Organisation. en-us Wed, 27 Nov 1996 00:00:00 +0530 Wed, 29 Feb 2012 13:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104504 The court granted State Bank of India's application to sell the assets of Aryodaya Ginning & Mfg. Co. Ltd., forming a sale committee to manage the process. Despite objections from Textile Labour Organisation, the court emphasized the need to expedite the winding-up proceedings due to slim chances of company revival. The decision aimed to ensure dues were paid to secured creditors and workmen, balancing their interests while acknowledging the company's financial difficulties. The implementation of the order was delayed for six weeks to allow for any challenges by the Textile Labour Organisation. Case-Laws Companies Law Wed, 27 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104504