https://www.taxtmi.com/caselaws?id=437450 Municipal property tax and water tax accruing after a winding-up order, while the company's assets remain in liquidation, are treated as liquidation expenses when they are incurred for preserving or realising the estate. Such post-liquidation dues rank in priority and may be paid out of the liquidation estate. An auction purchaser is not automatically liable for those arrears under an "as is where is whatever there is" clause unless the sale notice clearly shifts that burden or expressly requires the bidder to take the assets subject to encumbrances and municipal claims. In the absence of such clear notice, the liability remains with the Official Liquidator. en-us Thu, 04 May 2023 00:00:00 +0530 Fri, 05 May 2023 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437450 Municipal property tax and water tax accruing after a winding-up order, while the company's assets remain in liquidation, are treated as liquidation expenses when they are incurred for preserving or realising the estate. Such post-liquidation dues rank in priority and may be paid out of the liquidation estate. An auction purchaser is not automatically liable for those arrears under an "as is where is whatever there is" clause unless the sale notice clearly shifts that burden or expressly requires the bidder to take the assets subject to encumbrances and municipal claims. In the absence of such clear notice, the liability remains with the Official Liquidator. Case-Laws Companies Law Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437450