https://www.taxtmi.com/caselaws?id=190975 A Corporation's sale under section 29 of the State Financial Corporations Act was upheld because the record showed that the debtor-company had a further opportunity to pursue its settlement representation and that the decision on the representation was communicated through discussion and endorsement. The challenge on alleged non-communication therefore failed. The Court also held that the company's own conduct, including obtaining a bank certificate and seeking adjustment of bank liability from the sale proceeds, was consistent only with acceptance of the sale and precluded it from disputing the transaction. The Division Bench judgment was set aside and the writ petition dismissed with costs. en-us Tue, 15 Jul 1997 00:00:00 +0530 Wed, 15 Mar 2017 15:52:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190975 A Corporation's sale under section 29 of the State Financial Corporations Act was upheld because the record showed that the debtor-company had a further opportunity to pursue its settlement representation and that the decision on the representation was communicated through discussion and endorsement. The challenge on alleged non-communication therefore failed. The Court also held that the company's own conduct, including obtaining a bank certificate and seeking adjustment of bank liability from the sale proceeds, was consistent only with acceptance of the sale and precluded it from disputing the transaction. The Division Bench judgment was set aside and the writ petition dismissed with costs. Case-Laws Indian Laws Tue, 15 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190975