https://www.taxtmi.com/caselaws?id=334008 The Court allowed the application under Section 457(3) of the Companies Act, 1956, confirming the highest bid of &8377;66.51 lacs for the sale of the company's Gujarat unit. The Official Liquidator was directed to hand over possession to the highest bidder, refund earnest money to other bidders, and pay sale notice publication expenses. The Ex-Managing Director, now the sole secured creditor, raised no objections. The Court ordered the transfer of possession upon receipt of the full sale consideration, concluding the matter. en-us Mon, 17 Oct 2016 00:00:00 +0530 Wed, 02 Nov 2016 12:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334008 The Court allowed the application under Section 457(3) of the Companies Act, 1956, confirming the highest bid of &8377;66.51 lacs for the sale of the company's Gujarat unit. The Official Liquidator was directed to hand over possession to the highest bidder, refund earnest money to other bidders, and pay sale notice publication expenses. The Ex-Managing Director, now the sole secured creditor, raised no objections. The Court ordered the transfer of possession upon receipt of the full sale consideration, concluding the matter. Case-Laws Companies Law Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334008