https://www.taxtmi.com/caselaws?id=195222 A sale of assets of a company in liquidation by a recovery tribunal may proceed under the special recovery statute, but the Official Liquidator must be notified and associated with the sale process to protect the workmen's pari passu charge under the Companies Act. The right to sell is distinct from the right to distribute proceeds, yet a sale conducted after commencement of winding up without that statutory safeguard cannot be sustained. An auction, confirmation of sale and sale certificate issued without such association are liable to be set aside, with restoration of possession and compliance required before any fresh sale. en-us Thu, 13 Jun 2013 00:00:00 +0530 Mon, 23 Oct 2017 14:24:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195222 A sale of assets of a company in liquidation by a recovery tribunal may proceed under the special recovery statute, but the Official Liquidator must be notified and associated with the sale process to protect the workmen's pari passu charge under the Companies Act. The right to sell is distinct from the right to distribute proceeds, yet a sale conducted after commencement of winding up without that statutory safeguard cannot be sustained. An auction, confirmation of sale and sale certificate issued without such association are liable to be set aside, with restoration of possession and compliance required before any fresh sale. Case-Laws Companies Law Thu, 13 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195222