https://www.taxtmi.com/caselaws?id=303272 In a sale of company assets authorised by shareholder resolution, the authority should ordinarily respect the commercial wisdom of shareholders and not interfere with management unless illegality is shown. Approval was granted for sale of the company's property, but the process was required to secure the best price in a transparent manner for the benefit of the company and its secured creditors. The sale was therefore directed to be by open auction with wide publicity and creditor consent; sealed tenders could be used only if the auction failed to achieve the best price. en-us Sat, 01 Nov 2008 00:00:00 +0530 Tue, 12 Jul 2022 12:45:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303272 In a sale of company assets authorised by shareholder resolution, the authority should ordinarily respect the commercial wisdom of shareholders and not interfere with management unless illegality is shown. Approval was granted for sale of the company's property, but the process was required to secure the best price in a transparent manner for the benefit of the company and its secured creditors. The sale was therefore directed to be by open auction with wide publicity and creditor consent; sealed tenders could be used only if the auction failed to achieve the best price. Case-Laws Companies Law Sat, 01 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303272