https://www.taxtmi.com/caselaws?id=358375 A post-winding-up auction sale cannot be treated as void without first examining the statutory framework under Sections 536 and 537 of the Companies Act, 1956 and the material facts bearing on validity. The court noted that the company court had not addressed whether the transaction fell within Section 537(1)(b) or any saving under Sections 536(2) or 537(2), nor had it considered notice of the winding-up proceedings, the adequacy of the sale price, or the purchaser's bona fides. The impugned order setting aside the sale was therefore vacated and the matter remitted for fresh consideration on the relevant legal and factual issues. en-us Mon, 15 Jan 2018 00:00:00 +0530 Mon, 09 Apr 2018 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358375 A post-winding-up auction sale cannot be treated as void without first examining the statutory framework under Sections 536 and 537 of the Companies Act, 1956 and the material facts bearing on validity. The court noted that the company court had not addressed whether the transaction fell within Section 537(1)(b) or any saving under Sections 536(2) or 537(2), nor had it considered notice of the winding-up proceedings, the adequacy of the sale price, or the purchaser's bona fides. The impugned order setting aside the sale was therefore vacated and the matter remitted for fresh consideration on the relevant legal and factual issues. Case-Laws Companies Law Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358375