https://www.taxtmi.com/caselaws?id=111965 The High Court upheld the order directing re-advertisement of a property in liquidation, justifying the significantly higher bid of Rs. 3.50 crores by a new respondent over the appellant's bid of Rs. 2.10 crores. Emphasizing the Official Liquidator's duty to maximize asset sale price, the Court deemed the higher bid in the best interest of the company in liquidation. The appellant's refusal to participate in fresh bidding led to the acceptance of the superior bid, resulting in the matter being remitted back to the Company Judge for further proceedings. en-us Mon, 15 Oct 2007 00:00:00 +0530 Sun, 21 Dec 2014 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111965 The High Court upheld the order directing re-advertisement of a property in liquidation, justifying the significantly higher bid of Rs. 3.50 crores by a new respondent over the appellant's bid of Rs. 2.10 crores. Emphasizing the Official Liquidator's duty to maximize asset sale price, the Court deemed the higher bid in the best interest of the company in liquidation. The appellant's refusal to participate in fresh bidding led to the acceptance of the superior bid, resulting in the matter being remitted back to the Company Judge for further proceedings. Case-Laws Companies Law Mon, 15 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111965