https://www.taxtmi.com/caselaws?id=459588 The appeals by the Mettur Textiles Mill Quarters Residents Welfare Society against the Company Court's sale confirmation of properties under liquidation were dismissed. The court upheld the sale to the second respondent for Rs. 12.50 Crores, citing proper valuation and lack of irregularities. The society's intervention was deemed untimely and lacking bona fides. The court emphasized finality in Company Court proceedings and the importance of expedited adjudication for creditors and workers. No costs were awarded, and related motions were closed, reaffirming the Company Court's custodial role in ensuring reasonable prices in auction sales. en-us Thu, 06 Sep 2012 00:00:00 +0530 Thu, 19 Dec 2024 16:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459588 The appeals by the Mettur Textiles Mill Quarters Residents Welfare Society against the Company Court's sale confirmation of properties under liquidation were dismissed. The court upheld the sale to the second respondent for Rs. 12.50 Crores, citing proper valuation and lack of irregularities. The society's intervention was deemed untimely and lacking bona fides. The court emphasized finality in Company Court proceedings and the importance of expedited adjudication for creditors and workers. No costs were awarded, and related motions were closed, reaffirming the Company Court's custodial role in ensuring reasonable prices in auction sales. Case-Laws Companies Law Thu, 06 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459588