https://www.taxtmi.com/caselaws?id=190960 A secured creditor enforcing security under the Securitisation Act may sell assets of a company in liquidation without associating the Official Liquidator, because the statutory scheme treats the sale process as a complete code for valuation, reserve price, procedure and objections. Section 13(9) read with Section 529A of the Companies Act operates at the stage of distribution of sale proceeds, not at the stage of conducting the sale itself. Any grievance against the sale lies before the Debts Recovery Tribunal under Section 17. The earlier cases under the DRT Act and State Financial Corporations Act were distinguished as court-supervised sales, unlike sales under the Securitisation Act. The sale was therefore not invalid for want of the Official Liquidator's participation. en-us Mon, 17 Sep 2012 00:00:00 +0530 Wed, 22 May 2019 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190960 A secured creditor enforcing security under the Securitisation Act may sell assets of a company in liquidation without associating the Official Liquidator, because the statutory scheme treats the sale process as a complete code for valuation, reserve price, procedure and objections. Section 13(9) read with Section 529A of the Companies Act operates at the stage of distribution of sale proceeds, not at the stage of conducting the sale itself. Any grievance against the sale lies before the Debts Recovery Tribunal under Section 17. The earlier cases under the DRT Act and State Financial Corporations Act were distinguished as court-supervised sales, unlike sales under the Securitisation Act. The sale was therefore not invalid for want of the Official Liquidator's participation. Case-Laws Companies Law Mon, 17 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190960