https://www.taxtmi.com/caselaws?id=105204 The Court dismissed the application challenging the sale of assets of a company in liquidation, citing no mistake of fact in the bid submitted by the applicant. The Court upheld the validity of the bid and rejected the request for a refund of the deposited amount. Emphasizing the purchaser's duty to verify property details before bidding, the Court directed the applicant to pay the balance amount for the assets promptly. Failure to comply would lead to forfeiture of the deposited amount, with indemnification by financial institutions for any title-related losses. An additional application was dismissed, concluding the legal proceedings regarding the asset sale. en-us Tue, 06 Apr 1999 00:00:00 +0530 Fri, 02 Mar 2012 18:22:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105204 The Court dismissed the application challenging the sale of assets of a company in liquidation, citing no mistake of fact in the bid submitted by the applicant. The Court upheld the validity of the bid and rejected the request for a refund of the deposited amount. Emphasizing the purchaser's duty to verify property details before bidding, the Court directed the applicant to pay the balance amount for the assets promptly. Failure to comply would lead to forfeiture of the deposited amount, with indemnification by financial institutions for any title-related losses. An additional application was dismissed, concluding the legal proceedings regarding the asset sale. Case-Laws Companies Law Tue, 06 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105204