https://www.taxtmi.com/caselaws?id=112590 Post-confirmation theft or damage to part of a composite judicial sale lot does not automatically justify cancellation of the entire sale where the sale was on an "as is where is and whatever there is" basis and the loss is confined to movable assets. The Court held that the purchaser's challenge to total cancellation failed because the immovable property remained unaffected, the purchaser had bid with notice of the assets' condition, and the loss was capable of quantification. It accepted that equities could be adjusted by valuing the missing or damaged movables and giving credit against the sale consideration, with resale available if the purchaser did not accept the revised balance. en-us Mon, 13 Jul 2009 00:00:00 +0530 Thu, 06 Nov 2014 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112590 Post-confirmation theft or damage to part of a composite judicial sale lot does not automatically justify cancellation of the entire sale where the sale was on an "as is where is and whatever there is" basis and the loss is confined to movable assets. The Court held that the purchaser's challenge to total cancellation failed because the immovable property remained unaffected, the purchaser had bid with notice of the assets' condition, and the loss was capable of quantification. It accepted that equities could be adjusted by valuing the missing or damaged movables and giving credit against the sale consideration, with resale available if the purchaser did not accept the revised balance. Case-Laws Companies Law Mon, 13 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112590