https://www.taxtmi.com/caselaws?id=106795 In company winding up, the company's property remains in the custody of the court, and the official liquidator holds it subject to the court's control. The liquidator's power to sell is not absolute; it requires sanction and remains open to judicial supervision. The court may issue directions, modify sale conditions, and choose a more beneficial mode of sale to protect creditors and secure proper realisation of assets. The earlier Division Bench order, read in context, did not exclude the court's power or require that the official liquidator alone conduct or approve the sale. The matter was remitted for consideration on merits with this legal position clarified. en-us Fri, 31 Aug 2001 00:00:00 +0530 Thu, 15 Mar 2012 17:07:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106795 In company winding up, the company's property remains in the custody of the court, and the official liquidator holds it subject to the court's control. The liquidator's power to sell is not absolute; it requires sanction and remains open to judicial supervision. The court may issue directions, modify sale conditions, and choose a more beneficial mode of sale to protect creditors and secure proper realisation of assets. The earlier Division Bench order, read in context, did not exclude the court's power or require that the official liquidator alone conduct or approve the sale. The matter was remitted for consideration on merits with this legal position clarified. Case-Laws Companies Law Fri, 31 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106795