https://www.taxtmi.com/caselaws?id=344999 In liquidation proceedings, the Court ratified the Official Liquidator's taking over of the company's movable assets and approved constitution of a sale committee for disposal of the company's assets and properties. The decision was supported by the winding-up record, search report, inventory and valuation material, and the statement of affairs filed by the ex-directors, which showed that the assets required sale through a proper process. As there was only one secured creditor, the committee was directed to include the Official Liquidator as Chairman, the secured creditor's official representative, and the Assistant Official Liquidator. en-us Wed, 28 Jun 2017 00:00:00 +0530 Thu, 10 Aug 2017 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344999 In liquidation proceedings, the Court ratified the Official Liquidator's taking over of the company's movable assets and approved constitution of a sale committee for disposal of the company's assets and properties. The decision was supported by the winding-up record, search report, inventory and valuation material, and the statement of affairs filed by the ex-directors, which showed that the assets required sale through a proper process. As there was only one secured creditor, the committee was directed to include the Official Liquidator as Chairman, the secured creditor's official representative, and the Assistant Official Liquidator. Case-Laws Companies Law Wed, 28 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344999