https://www.taxtmi.com/caselaws?id=329840 A subsisting Company Court order permitting recovery proceedings but restraining coercive action against company assets bound the Recovery Officer, so a sale held in breach of that order and its confirmation were liable to be set aside. The auction of assets of a company in liquidation was also unsustainable because the Official Liquidator was not effectively associated and the objections of the Official Liquidator and workers were not properly considered, undermining fairness and transparency in the process. Exclusive DRT jurisdiction, alternate remedy, and equity did not protect a sale conducted contrary to the Company Court's order and with procedural defects. The appeal failed and the auction sale was set aside. en-us Mon, 04 Jul 2016 00:00:00 +0530 Mon, 09 Aug 2021 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329840 A subsisting Company Court order permitting recovery proceedings but restraining coercive action against company assets bound the Recovery Officer, so a sale held in breach of that order and its confirmation were liable to be set aside. The auction of assets of a company in liquidation was also unsustainable because the Official Liquidator was not effectively associated and the objections of the Official Liquidator and workers were not properly considered, undermining fairness and transparency in the process. Exclusive DRT jurisdiction, alternate remedy, and equity did not protect a sale conducted contrary to the Company Court's order and with procedural defects. The appeal failed and the auction sale was set aside. Case-Laws Companies Law Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329840