Friday, 17 January 2014

OL couldn’t challenge auction if it was upheld by Court and proceeds utilized to clear dues of co-in

CL: Where assets belonging to Company-in-liquidation was sold under Revenue Recovery Act to settle labour dues, Official Liquidator had no locus standi to challenge auction which not only stand upheld by Court, but sale proceeds had also been utilised to discharge dues of company-in-liquidation


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