https://www.taxtmi.com/caselaws?id=105122 The court set aside the auction sale of company assets by the Orissa State Financial Corporation (OSFC) due to lack of proper procedures and failure to provide adequate notice. The court ruled in favor of the petitioner-bank, directing the OSFC to conduct a fresh sale with proper publicity, compliance with legal requirements, and a minimum 15-day notice to the petitioner-bank and the company for participation in the auction. No costs were awarded, and the decision was unanimous. en-us Wed, 28 Oct 1998 00:00:00 +0530 Fri, 02 Mar 2012 15:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105122 The court set aside the auction sale of company assets by the Orissa State Financial Corporation (OSFC) due to lack of proper procedures and failure to provide adequate notice. The court ruled in favor of the petitioner-bank, directing the OSFC to conduct a fresh sale with proper publicity, compliance with legal requirements, and a minimum 15-day notice to the petitioner-bank and the company for participation in the auction. No costs were awarded, and the decision was unanimous. Case-Laws Companies Law Wed, 28 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105122