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2003 (1) TMI 530 - HC - Companies Law

The High Court of Rajasthan allowed an application under section 446(2) of the Companies Act, 1956 for a bank to sell assets of a company as a secured creditor. The bank was permitted to remain out of winding up proceedings under certain conditions, including valuation of assets by registered valuers, setting upset prices, wide notice for sale, court confirmation, and depositing sale proceeds with the Official Liquidator.

 

 

 

 

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