https://www.taxtmi.com/caselaws?id=110805 An asset reconstruction company may take part in selling assets of a company in liquidation only in association with the Official Liquidator and under the Company Court's supervision. The SARFAESI enforcement framework operates alongside the Companies Act winding-up scheme, and once liquidation has commenced the Official Liquidator represents creditors and workmen. Sale of liquidation assets must therefore preserve the statutory distribution priorities under sections 529 and 529A and ensure that the process secures a proper price and lawful distribution of proceeds. en-us Tue, 18 Apr 2006 00:00:00 +0530 Mon, 11 Mar 2024 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110805 An asset reconstruction company may take part in selling assets of a company in liquidation only in association with the Official Liquidator and under the Company Court's supervision. The SARFAESI enforcement framework operates alongside the Companies Act winding-up scheme, and once liquidation has commenced the Official Liquidator represents creditors and workmen. Sale of liquidation assets must therefore preserve the statutory distribution priorities under sections 529 and 529A and ensure that the process secures a proper price and lawful distribution of proceeds. Case-Laws Companies Law Tue, 18 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110805