https://www.taxtmi.com/caselaws?id=383662 The Court confirmed the sale of a company's property in liquidation to the highest bidder after finding no irregularities in the auction process conducted under the SARFAESI Act. The bank, seeking confirmation of the sale, had obtained legal permission to proceed with the asset liquidation. Despite objections raised by the Official Liquidator regarding reduced valuation, the Court justified the valuation based on natural depreciation of machinery and allowed the sale in favor of the auction purchaser, directing the Official Liquidator to take necessary steps for sale confirmation. en-us Tue, 16 Jul 2019 00:00:00 +0530 Mon, 29 Jul 2019 08:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383662 The Court confirmed the sale of a company's property in liquidation to the highest bidder after finding no irregularities in the auction process conducted under the SARFAESI Act. The bank, seeking confirmation of the sale, had obtained legal permission to proceed with the asset liquidation. Despite objections raised by the Official Liquidator regarding reduced valuation, the Court justified the valuation based on natural depreciation of machinery and allowed the sale in favor of the auction purchaser, directing the Official Liquidator to take necessary steps for sale confirmation. Case-Laws Companies Law Tue, 16 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383662