https://www.taxtmi.com/caselaws?id=110916 The court set aside the Company Judge's order confirming the highest offer of Rs. 140 crores due to the highest bidder's failure to meet payment conditions. It found inadequate opportunity given to other bidders and directed the official liquidator to call for fresh tenders. Specific directions were provided for the distribution of sale proceeds among workers, lessees, and creditors, prioritizing workers' claims. The court allowed the original side appeals, prioritizing workers' claims and settling other creditors' claims based on eligibility, and closed related stay petitions. en-us Mon, 11 Jul 2005 00:00:00 +0530 Thu, 19 Apr 2012 11:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110916 The court set aside the Company Judge's order confirming the highest offer of Rs. 140 crores due to the highest bidder's failure to meet payment conditions. It found inadequate opportunity given to other bidders and directed the official liquidator to call for fresh tenders. Specific directions were provided for the distribution of sale proceeds among workers, lessees, and creditors, prioritizing workers' claims. The court allowed the original side appeals, prioritizing workers' claims and settling other creditors' claims based on eligibility, and closed related stay petitions. Case-Laws Companies Law Mon, 11 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110916