https://www.taxtmi.com/caselaws?id=110435 A court-confirmed sale in liquidation should not be recalled or set aside absent cogent reasons, particularly where the purchaser has altered its position and no bona fide higher offer is produced. The Court found that the Official Liquidator had been informed at the relevant stage, the company had already been given repeated chances to clear its dues, and the sale price was not shown to be so inadequate as to justify interference. It therefore declined to reopen the concluded transaction and upheld the confirmed sale, while directing a limited factual inquiry on possible excess land in possession. en-us Mon, 28 Jun 2004 00:00:00 +0530 Mon, 16 Apr 2012 17:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110435 A court-confirmed sale in liquidation should not be recalled or set aside absent cogent reasons, particularly where the purchaser has altered its position and no bona fide higher offer is produced. The Court found that the Official Liquidator had been informed at the relevant stage, the company had already been given repeated chances to clear its dues, and the sale price was not shown to be so inadequate as to justify interference. It therefore declined to reopen the concluded transaction and upheld the confirmed sale, while directing a limited factual inquiry on possible excess land in possession. Case-Laws Companies Law Mon, 28 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110435