https://www.taxtmi.com/caselaws?id=114012 Recovery powers under the 1993 Act extend only to the debtor's property, and assets of a company in liquidation cannot be attached or sold in execution of another person's debt. The company is a separate juristic entity, and on winding up its property vests in the official liquidator for administration under insolvency law. Because the company was not the judgment debtor or certificate debtor, the court held that the Recovery Officer could not proceed against its assets without notice to the official liquidator. Sale was restrained until the liquidator was impleaded and heard, after which the recovery forum could proceed in accordance with law. en-us Fri, 08 Aug 2008 00:00:00 +0530 Tue, 02 Dec 2014 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114012 Recovery powers under the 1993 Act extend only to the debtor's property, and assets of a company in liquidation cannot be attached or sold in execution of another person's debt. The company is a separate juristic entity, and on winding up its property vests in the official liquidator for administration under insolvency law. Because the company was not the judgment debtor or certificate debtor, the court held that the Recovery Officer could not proceed against its assets without notice to the official liquidator. Sale was restrained until the liquidator was impleaded and heard, after which the recovery forum could proceed in accordance with law. Case-Laws Companies Law Fri, 08 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114012