https://www.taxtmi.com/caselaws?id=104786 The Supreme Court upheld the High Court's decision to set aside the confirmed sale of Tirupati Woollen Mills Ltd. in favor of Divya Mfg. Co. due to inadequate sale price and in the interest of creditors and public interest. The Court emphasized its authority to reopen the sale post-confirmation, ensuring proper exercise of judicial discretion to protect stakeholders' interests. The appeals were dismissed, directing a fresh sale with a reserved price of Rs. 2 crores to obtain the best value for the company's assets in liquidation. en-us Tue, 11 Jul 2000 00:00:00 +0530 Fri, 06 Jun 2014 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104786 The Supreme Court upheld the High Court's decision to set aside the confirmed sale of Tirupati Woollen Mills Ltd. in favor of Divya Mfg. Co. due to inadequate sale price and in the interest of creditors and public interest. The Court emphasized its authority to reopen the sale post-confirmation, ensuring proper exercise of judicial discretion to protect stakeholders' interests. The appeals were dismissed, directing a fresh sale with a reserved price of Rs. 2 crores to obtain the best value for the company's assets in liquidation. Case-Laws Companies Law Tue, 11 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104786