https://www.taxtmi.com/caselaws?id=111104 In winding-up proceedings, the court may authorise sale of a company's movable and immovable assets where the sale is needed to curb mounting liabilities, preserve depreciating assets, and protect the interests of secured creditors and workmen. Common-facility assets shared with another company may be segregated into a distinct lot so that their value and sale proceeds remain identifiable. Pendency of a challenge to an AAIFR order, and a SICA-based objection, do not by themselves bar the sale where no interim restraint exists. The sale process may proceed by public advertisement, with secured creditors participating and sale expenses apportioned among them. en-us Mon, 24 Jan 2005 00:00:00 +0530 Fri, 20 Apr 2012 13:06:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111104 In winding-up proceedings, the court may authorise sale of a company's movable and immovable assets where the sale is needed to curb mounting liabilities, preserve depreciating assets, and protect the interests of secured creditors and workmen. Common-facility assets shared with another company may be segregated into a distinct lot so that their value and sale proceeds remain identifiable. Pendency of a challenge to an AAIFR order, and a SICA-based objection, do not by themselves bar the sale where no interim restraint exists. The sale process may proceed by public advertisement, with secured creditors participating and sale expenses apportioned among them. Case-Laws Companies Law Mon, 24 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111104