https://www.taxtmi.com/caselaws?id=285531 The Court upheld the validity of the sale of properties under section 537(1)(b) of the Companies Act, 1956, rejecting the Official Liquidator's claim to declare it null and void. The Court found the sale to be bonafide, for consideration, and aimed at settling dues, dismissing the request to hand over properties to the Official Liquidator. Additionally, the Court allowed the Official Liquidator to determine workers' dues and seek directions against secured creditors. The company's application was granted, and the Official Liquidator's report was rejected. en-us Fri, 27 Jan 2012 00:00:00 +0530 Thu, 16 Jan 2020 14:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285531 The Court upheld the validity of the sale of properties under section 537(1)(b) of the Companies Act, 1956, rejecting the Official Liquidator's claim to declare it null and void. The Court found the sale to be bonafide, for consideration, and aimed at settling dues, dismissing the request to hand over properties to the Official Liquidator. Additionally, the Court allowed the Official Liquidator to determine workers' dues and seek directions against secured creditors. The company's application was granted, and the Official Liquidator's report was rejected. Case-Laws Indian Laws Fri, 27 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285531