https://www.taxtmi.com/caselaws?id=109554 In a court auction sale during liquidation, pre-existing property tax, electricity charges and building maintenance dues could not be fastened on the Official Liquidator absent an express contractual term shifting that burden. Section 530 of the Companies Act, 1956 governs priority in distribution of a company's assets among creditors and does not support a purchaser's claim against the liquidator after sale. Section 55 of the Transfer of Property Act, 1882 applies to inter vivos transfers and not to sales in invitum. Where the auction terms also excluded claims for defects or defaults and the purchaser bought with notice of the dues, the claim to compel payment by the Official Liquidator failed. en-us Fri, 04 Apr 2003 00:00:00 +0530 Tue, 10 Apr 2012 17:34:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109554 In a court auction sale during liquidation, pre-existing property tax, electricity charges and building maintenance dues could not be fastened on the Official Liquidator absent an express contractual term shifting that burden. Section 530 of the Companies Act, 1956 governs priority in distribution of a company's assets among creditors and does not support a purchaser's claim against the liquidator after sale. Section 55 of the Transfer of Property Act, 1882 applies to inter vivos transfers and not to sales in invitum. Where the auction terms also excluded claims for defects or defaults and the purchaser bought with notice of the dues, the claim to compel payment by the Official Liquidator failed. Case-Laws Companies Law Fri, 04 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109554