https://www.taxtmi.com/caselaws?id=113824 A confirmed auction sale of secured assets is not liable to be disturbed where there is no proved fraud, collusion, or material irregularity, and where the sale is preceded by proper valuation, adequate newspaper publicity, and acceptance of the highest bid in the presence of the official liquidator. The note also records that workmen's pari passu rights were protected through remittances towards labour dues and compliance with the statutory distribution scheme. On these facts, the challenge to the auction sale was unsuccessful and the sale was treated as valid. en-us Wed, 03 Mar 2010 00:00:00 +0530 Tue, 14 Oct 2014 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113824 A confirmed auction sale of secured assets is not liable to be disturbed where there is no proved fraud, collusion, or material irregularity, and where the sale is preceded by proper valuation, adequate newspaper publicity, and acceptance of the highest bid in the presence of the official liquidator. The note also records that workmen's pari passu rights were protected through remittances towards labour dues and compliance with the statutory distribution scheme. On these facts, the challenge to the auction sale was unsuccessful and the sale was treated as valid. Case-Laws Companies Law Wed, 03 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113824