https://www.taxtmi.com/caselaws?id=106641 Pending proceedings before the Debts Recovery Tribunal do not, by themselves, bar the Official Liquidator from selling a company's assets in liquidation under the Companies Act, 1956, because the Tribunal's role remains confined to adjudication and recovery of bank debts and does not displace the winding-up process. The banks' rights are protected through statutory priorities in distribution of sale proceeds. A private sale proposal for the company as a going concern cannot replace a court-supervised sale process without proper judicial sanction; wider publicity, sealed tenders, and participation of the Official Liquidator and stakeholders remain necessary to secure a fair realisation of assets. en-us Thu, 14 Feb 2002 00:00:00 +0530 Thu, 15 Mar 2012 11:05:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106641 Pending proceedings before the Debts Recovery Tribunal do not, by themselves, bar the Official Liquidator from selling a company's assets in liquidation under the Companies Act, 1956, because the Tribunal's role remains confined to adjudication and recovery of bank debts and does not displace the winding-up process. The banks' rights are protected through statutory priorities in distribution of sale proceeds. A private sale proposal for the company as a going concern cannot replace a court-supervised sale process without proper judicial sanction; wider publicity, sealed tenders, and participation of the Official Liquidator and stakeholders remain necessary to secure a fair realisation of assets. Case-Laws Companies Law Thu, 14 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106641