https://www.taxtmi.com/caselaws?id=219378 Assets of a company in liquidation may be sold through recovery proceedings only after notice to, and hearing of, the official liquidator; the contrary view that the liquidator had no meaningful role was incorrect. A sale will be sustained where the auction process is fair, transparent, publicly notified, and competitive, and where the property fetches the best available price. On the facts, a fresh auction with safeguards produced the highest bid, so the sale was confirmed subject to an additional deposit, while the workmen's related claims were left for separate consideration by the High Court. en-us Mon, 03 Dec 2012 00:00:00 +0530 Wed, 09 Oct 2013 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219378 Assets of a company in liquidation may be sold through recovery proceedings only after notice to, and hearing of, the official liquidator; the contrary view that the liquidator had no meaningful role was incorrect. A sale will be sustained where the auction process is fair, transparent, publicly notified, and competitive, and where the property fetches the best available price. On the facts, a fresh auction with safeguards produced the highest bid, so the sale was confirmed subject to an additional deposit, while the workmen's related claims were left for separate consideration by the High Court. Case-Laws Companies Law Mon, 03 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219378