https://www.taxtmi.com/caselaws?id=109297 The Supreme Court clarified that the applicant was not entitled to the interest accrued on the purchase price of assets acquired from a company in liquidation. The Court highlighted the low purchase price, early possession of assets, and lack of failure of consideration. It dismissed the application, emphasizing the discretion to award interest lies with the Court, and restitution principles applied. Additionally, the Court reiterated that the mode of sale of assets in liquidation should be determined by the company court, dismissing applications seeking clarification on selling assets as a going concern or "as is where is." en-us Thu, 07 Oct 2004 00:00:00 +0530 Tue, 27 Dec 2016 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109297 The Supreme Court clarified that the applicant was not entitled to the interest accrued on the purchase price of assets acquired from a company in liquidation. The Court highlighted the low purchase price, early possession of assets, and lack of failure of consideration. It dismissed the application, emphasizing the discretion to award interest lies with the Court, and restitution principles applied. Additionally, the Court reiterated that the mode of sale of assets in liquidation should be determined by the company court, dismissing applications seeking clarification on selling assets as a going concern or "as is where is." Case-Laws Companies Law Thu, 07 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109297