https://www.taxtmi.com/caselaws?id=215018 The court directed the appellant, a trust running a Teachers' Training Institute, to hand over vacant possession of the property to the official liquidator. The court found the lease agreement heavily tilted in favor of the lessee, deeming it invalid. The appellant was ordered to pay damages for use and occupation, and a fresh auction was ordered due to the highest bidder's failure to pay the balance. The court emphasized protecting the interests of secured creditors and employees. The appeal was dismissed, and specific directions were given for the payment of damages and the conduct of a new auction. en-us Tue, 16 Aug 2011 00:00:00 +0530 Fri, 08 Feb 2013 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215018 The court directed the appellant, a trust running a Teachers' Training Institute, to hand over vacant possession of the property to the official liquidator. The court found the lease agreement heavily tilted in favor of the lessee, deeming it invalid. The appellant was ordered to pay damages for use and occupation, and a fresh auction was ordered due to the highest bidder's failure to pay the balance. The court emphasized protecting the interests of secured creditors and employees. The appeal was dismissed, and specific directions were given for the payment of damages and the conduct of a new auction. Case-Laws Companies Law Tue, 16 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215018