https://www.taxtmi.com/caselaws?id=111047 Where a company in liquidation had already discharged secured creditor and labour liabilities, and the State Government undertook responsibility for any residual or future liabilities, the Court accepted transfer of the remaining immovable properties to the State for a public industrial purpose. It found no basis to keep the assets with the Official Liquidator or to continue proposed sales to private applicants, and the pending sale-related applications became infructuous. The Official Liquidator was directed to render accounts of the funds in hand, retain only the amount needed for liabilities or contingencies, and deal with the balance under further orders. en-us Fri, 23 Dec 2005 00:00:00 +0530 Fri, 20 Apr 2012 10:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111047 Where a company in liquidation had already discharged secured creditor and labour liabilities, and the State Government undertook responsibility for any residual or future liabilities, the Court accepted transfer of the remaining immovable properties to the State for a public industrial purpose. It found no basis to keep the assets with the Official Liquidator or to continue proposed sales to private applicants, and the pending sale-related applications became infructuous. The Official Liquidator was directed to render accounts of the funds in hand, retain only the amount needed for liabilities or contingencies, and deal with the balance under further orders. Case-Laws Companies Law Fri, 23 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111047