https://www.taxtmi.com/caselaws?id=196608 The High Court of Karnataka rejected an application for approval of a bid in an auction for a property under liquidation. The Court determined that the auction purchaser did not acquire absolute title to the property as it was in a leasehold condition, not owned by the company under liquidation. The Court directed the refund of the earnest money deposit to the auction purchaser as they were unwilling to proceed with the purchase under the leasehold terms. en-us Thu, 05 Jul 2007 00:00:00 +0530 Fri, 08 Dec 2017 17:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196608 The High Court of Karnataka rejected an application for approval of a bid in an auction for a property under liquidation. The Court determined that the auction purchaser did not acquire absolute title to the property as it was in a leasehold condition, not owned by the company under liquidation. The Court directed the refund of the earnest money deposit to the auction purchaser as they were unwilling to proceed with the purchase under the leasehold terms. Case-Laws Companies Law Thu, 05 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196608