https://www.taxtmi.com/caselaws?id=113061 Assets of a company in liquidation vest in the Official Liquidator, so a recovery sale conducted after a winding-up order without notice to the Official Liquidator is invalid. The DRT or recovery officer may proceed against such assets only after giving mandatory notice and hearing the Official Liquidator; failure to do so vitiates the proceedings. Applying that principle, the court rejected reliance on the recovery proceedings to sustain the auction sale and upheld the setting aside of the sale as void. en-us Fri, 18 Jul 2008 00:00:00 +0530 Thu, 04 Dec 2014 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113061 Assets of a company in liquidation vest in the Official Liquidator, so a recovery sale conducted after a winding-up order without notice to the Official Liquidator is invalid. The DRT or recovery officer may proceed against such assets only after giving mandatory notice and hearing the Official Liquidator; failure to do so vitiates the proceedings. Applying that principle, the court rejected reliance on the recovery proceedings to sustain the auction sale and upheld the setting aside of the sale as void. Case-Laws Companies Law Fri, 18 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113061