https://www.taxtmi.com/caselaws?id=112100 The court denied the relief sought by the applicant-bank in a case involving the confirmation of the sale of a property, declaration of the bank as the sole secured creditor, and restraining the official liquidator from executing the sale deed. The court found that the bank's status would be determined by the Company Law Board and that the transactions creating the equitable mortgage were invalid under Section 536(2) of the Companies Act, 1956. The court disposed of the application, stating no further directions were necessary at that stage. en-us Wed, 20 Feb 2008 00:00:00 +0530 Thu, 11 Dec 2014 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112100 The court denied the relief sought by the applicant-bank in a case involving the confirmation of the sale of a property, declaration of the bank as the sole secured creditor, and restraining the official liquidator from executing the sale deed. The court found that the bank's status would be determined by the Company Law Board and that the transactions creating the equitable mortgage were invalid under Section 536(2) of the Companies Act, 1956. The court disposed of the application, stating no further directions were necessary at that stage. Case-Laws Companies Law Wed, 20 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112100