https://www.taxtmi.com/caselaws?id=112743 The Court rejected the Official Liquidator's request to declare the transaction void under section 531A of the Companies Act, 1956, and granted M/s. Siddhi Vinayak Corporation's application for confirmation of the sale of the resort property. The Court found the transaction was made in good faith, for valuable consideration, and the proceeds were used to pay off creditors. The Official Liquidator failed to prove any mala fides or inadequate consideration in the sale. Consequently, the Court disposed of the Official Liquidator's report and the Company Application accordingly. en-us Tue, 30 Dec 2008 00:00:00 +0530 Fri, 21 Nov 2014 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112743 The Court rejected the Official Liquidator's request to declare the transaction void under section 531A of the Companies Act, 1956, and granted M/s. Siddhi Vinayak Corporation's application for confirmation of the sale of the resort property. The Court found the transaction was made in good faith, for valuable consideration, and the proceeds were used to pay off creditors. The Official Liquidator failed to prove any mala fides or inadequate consideration in the sale. Consequently, the Court disposed of the Official Liquidator's report and the Company Application accordingly. Case-Laws Companies Law Tue, 30 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112743