https://www.taxtmi.com/caselaws?id=469816 The Bombay High Court declined to permit the Official Assignee to take physical possession of the insolvent's family flat or sell it merely because insolvency had been declared, stressing protection of shelter and family welfare while preserving the insolvent's share as part of the estate and restraining any alienation without leave of court. It also accepted the revised offer for the partnership's paper punching machine, directing payment within one week and transfer of the asset, with sale proceeds to be credited to the insolvent estate account for investment until further orders. en-us Tue, 05 Mar 2019 00:00:00 +0530 Mon, 06 Jul 2026 11:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469816 The Bombay High Court declined to permit the Official Assignee to take physical possession of the insolvent's family flat or sell it merely because insolvency had been declared, stressing protection of shelter and family welfare while preserving the insolvent's share as part of the estate and restraining any alienation without leave of court. It also accepted the revised offer for the partnership's paper punching machine, directing payment within one week and transfer of the asset, with sale proceeds to be credited to the insolvent estate account for investment until further orders. Case-Laws IBC Tue, 05 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469816