Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Companies Law - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Revocation of order accepting highest bid – auction of property ...


Court Revokes Auction Bid Acceptance for Liquidated Property; Stakeholders Silent on Appellant's Offer; Integrity of Sales Upheld.

August 25, 2015

Case Laws     Companies Law     SC

Revocation of order accepting highest bid – auction of property of company under liquidation - HNone of stake-holders of Company in liquidation ever objected to offer of appellant on ground that it is inadequate consideration for property –Value of property in question must have escalated substantially in view of developments subsequent but allowing such attempt, would rob sales conducted by Courts of all sanctity - SC

View Source

 


 

You may also like:

  1. This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

  2. The court dismissed the petition challenging the auction process for sale of the property and seeking refund of the purchase price paid by the petitioner as the...

  3. The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court...

  4. Recovery of VAT from the purchaser of property in Auction - Attachment of mortgaged properties - It is hereby declared that the respondent No.2 had the first charge over...

  5. The auction sale notice for the immovable property of the society under liquidation was published with a lower valuation and upset price. Despite being aware of the...

  6. In a High Court case involving an auction sale in Corporate Insolvency Resolution Process (CIRP) u/s IBC, the issue was the refund of bid amount by the successful bidder....

  7. HC held that secured creditor's rights take precedence over government tax dues, affirming a fundamental banking law principle. The court validated the auction sale of...

  8. NCLAT dismissed the appeal challenging the auction notice and denied stay of the impugned order. The Tribunal found no procedural flaws in the liquidation process,...

  9. Right of the auction purchaser - Validity of Auction of properties of borrower by the Bank - Borrower sold the property subject to decision of DRT before auction by Bank...

  10. Recovery of Tax - Attachment and auction of property - Right of buyer of property in Auction - the dues as claimed by the respondent no.2, being a charge on the...

  11. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  12. Recovery of tax dues - Right of auction purchaser of the property - Since the petitioner had purchased in the auction sale conducted by the bank under the provisions of...

  13. HC considered bid acceptance in a tender for manpower supply based on pricing and GST inclusion. Bidder 1&2 quoted 1.18, while bidder 2 bid 1.03, indicating lower bid....

  14. The SC permitted the Enforcement Directorate to finalize the sale of one property valued at approximately Rs. 40 crores, while directing immediate fresh auction of a...

  15. CIRP - Transfer of property under auction - status of "charge" created on the property - Right and liability of the purchaser of property - Even otherwise as per Section...

 

Quick Updates:Latest Updates