https://www.taxtmi.com/caselaws?id=109722 In winding-up proceedings, a confirmed sale could not be recalled merely because a non-party later made a higher offer. The court found no provision in the Companies Act, 1956 or the Companies (Court) Rules, 1959 authorising reopening of the confirmed sale on these facts, especially where no fraud by the purchaser was alleged. The highest bidder was a necessary party to any challenge but had not been impleaded, and the relief could not be granted behind that purchaser's back while an appeal was pending. en-us Fri, 20 Sep 2002 00:00:00 +0530 Wed, 11 Apr 2012 15:27:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109722 In winding-up proceedings, a confirmed sale could not be recalled merely because a non-party later made a higher offer. The court found no provision in the Companies Act, 1956 or the Companies (Court) Rules, 1959 authorising reopening of the confirmed sale on these facts, especially where no fraud by the purchaser was alleged. The highest bidder was a necessary party to any challenge but had not been impleaded, and the relief could not be granted behind that purchaser's back while an appeal was pending. Case-Laws Companies Law Fri, 20 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109722