https://www.taxtmi.com/caselaws?id=104888 The court allowed for the sale of the company as a 'going concern' despite its prolonged non-functionality, emphasizing the need for evidence to support such decisions. The sale was permitted under strict conditions, including setting a reserve price equal to the total decree amount and obligations on the purchaser to settle all liabilities. If the 'going concern' sale failed within a specified timeframe, individual asset sales would proceed. The court aimed to balance the interests of the bank, workers, and creditors while ensuring legal compliance and creditor satisfaction in the liquidation process. en-us Tue, 26 Sep 2000 00:00:00 +0530 Sat, 31 Aug 2013 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104888 The court allowed for the sale of the company as a 'going concern' despite its prolonged non-functionality, emphasizing the need for evidence to support such decisions. The sale was permitted under strict conditions, including setting a reserve price equal to the total decree amount and obligations on the purchaser to settle all liabilities. If the 'going concern' sale failed within a specified timeframe, individual asset sales would proceed. The court aimed to balance the interests of the bank, workers, and creditors while ensuring legal compliance and creditor satisfaction in the liquidation process. Case-Laws Companies Law Tue, 26 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104888