https://www.taxtmi.com/caselaws?id=789924 After abatement of the revival proceedings under the insolvency regime, GDCL had no subsisting authority to deal with the assets or shareholding of JUL and JAIL, and legitimate expectation or Article 142 could not validate unauthorized acts. The Court held that the JAIL share allotment was illegal and set aside the undisclosed scrap sale at the Sawai Madhopur unit with refund and interest, while leaving other impugned sales undisturbed for want of necessary parties and evidence. It rejected third-party rehabilitation proposals as premature because no proper valuation or inventory had been made and the unit was not realistically revivable. Workmen's dues were to be verified and paid expeditiously under an administrator's supervision, with asset inventory and valuation directed. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789924 After abatement of the revival proceedings under the insolvency regime, GDCL had no subsisting authority to deal with the assets or shareholding of JUL and JAIL, and legitimate expectation or Article 142 could not validate unauthorized acts. The Court held that the JAIL share allotment was illegal and set aside the undisclosed scrap sale at the Sawai Madhopur unit with refund and interest, while leaving other impugned sales undisturbed for want of necessary parties and evidence. It rejected third-party rehabilitation proposals as premature because no proper valuation or inventory had been made and the unit was not realistically revivable. Workmen's dues were to be verified and paid expeditiously under an administrator's supervision, with asset inventory and valuation directed. Case-Laws Indian Laws Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789924