https://www.taxtmi.com/caselaws?id=458378 In company liquidation, a settlement involving a secured creditor, the ex-management and release of land acquisition compensation may be approved if it is fair, reasonable and beneficial to the company, its creditors and other stakeholders. The Court accepted the arrangement because it reduced the secured liability, provided for payment under the agreed terms and protected the liquidation estate by channeling compensation through the official liquidator. The Court also directed the official liquidator to pursue enhancement of compensation before the competent authority, preserving the company's right to obtain the full benefit of the acquisition proceeds while leaving the merits to be decided in the statutory forum. en-us Thu, 28 Nov 2013 00:00:00 +0530 Thu, 24 Oct 2024 15:02:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458378 In company liquidation, a settlement involving a secured creditor, the ex-management and release of land acquisition compensation may be approved if it is fair, reasonable and beneficial to the company, its creditors and other stakeholders. The Court accepted the arrangement because it reduced the secured liability, provided for payment under the agreed terms and protected the liquidation estate by channeling compensation through the official liquidator. The Court also directed the official liquidator to pursue enhancement of compensation before the competent authority, preserving the company's right to obtain the full benefit of the acquisition proceeds while leaving the merits to be decided in the statutory forum. Case-Laws Indian Laws Thu, 28 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458378