https://www.taxtmi.com/caselaws?id=127016 The challenge to the auction sale under the winding-up provisions failed because the sale of movable assets had taken place before the winding-up order, with no effective notice showing awareness of the earlier company petition. The auction was confined to movable assets described as chal sampatti, so permanently embedded plant, machinery and factory structures were treated as immovable property and excluded from the sale. Directions for execution of conveyance were granted for the assets validly purchased, but claims for compensation, withdrawal of sale proceeds and inclusion of embedded items were rejected, subject only to a limited local commissioner inquiry on items removed or remaining at the site. en-us Fri, 07 Nov 2008 00:00:00 +0530 Tue, 25 Nov 2014 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127016 The challenge to the auction sale under the winding-up provisions failed because the sale of movable assets had taken place before the winding-up order, with no effective notice showing awareness of the earlier company petition. The auction was confined to movable assets described as chal sampatti, so permanently embedded plant, machinery and factory structures were treated as immovable property and excluded from the sale. Directions for execution of conveyance were granted for the assets validly purchased, but claims for compensation, withdrawal of sale proceeds and inclusion of embedded items were rejected, subject only to a limited local commissioner inquiry on items removed or remaining at the site. Case-Laws Companies Law Fri, 07 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127016