https://www.taxtmi.com/caselaws?id=109054 The appeal by a scheduled bank challenging the order confirming the sale of immovable properties by the Official Liquidator was allowed. The court found material irregularities in the auction process, inadequate prices fetched at the auction, and discrepancies in valuations obtained. The bank's bona fides were acknowledged, leading to the setting aside of the previous order. The properties were directed to be re-auctioned with correct market prices obtained, ensuring fairness to all stakeholders involved. The Official Liquidator was reprimanded for non-compliance with court orders. en-us Tue, 23 Mar 2004 00:00:00 +0530 Thu, 05 Apr 2012 16:34:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109054 The appeal by a scheduled bank challenging the order confirming the sale of immovable properties by the Official Liquidator was allowed. The court found material irregularities in the auction process, inadequate prices fetched at the auction, and discrepancies in valuations obtained. The bank's bona fides were acknowledged, leading to the setting aside of the previous order. The properties were directed to be re-auctioned with correct market prices obtained, ensuring fairness to all stakeholders involved. The Official Liquidator was reprimanded for non-compliance with court orders. Case-Laws Companies Law Tue, 23 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109054