https://www.taxtmi.com/caselaws?id=288916 In a liquidation sale, the court confirmed the sale of two tugs and directed issuance of the sale certificate to the purchaser. The sale proceeds were to be deposited with the Official Liquidator and kept in fixed deposit, with separate accounts maintained for expenses, and no disbursement was permitted without further orders. Necessary charges, including port dues, advertisement expenses and manning expenses, were treated as liquidation expenses recoverable from the proceeds. The third tug was directed to be advertised for sale at the reserved price fixed on valuation, with inspection allowed to prospective purchasers and provisional manning arrangements made. Priority claims, including maritime liens and maritime claims, were left for later determination. en-us Thu, 01 Mar 2018 00:00:00 +0530 Sun, 05 Jul 2020 15:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288916 In a liquidation sale, the court confirmed the sale of two tugs and directed issuance of the sale certificate to the purchaser. The sale proceeds were to be deposited with the Official Liquidator and kept in fixed deposit, with separate accounts maintained for expenses, and no disbursement was permitted without further orders. Necessary charges, including port dues, advertisement expenses and manning expenses, were treated as liquidation expenses recoverable from the proceeds. The third tug was directed to be advertised for sale at the reserved price fixed on valuation, with inspection allowed to prospective purchasers and provisional manning arrangements made. Priority claims, including maritime liens and maritime claims, were left for later determination. Case-Laws Companies Law Thu, 01 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288916