Supreme Court · 2000 INSC 334 · Decided 11 July 2000
Divya Manufacturing CO. (P) LTD. Tirupati Woollen Mills Shramik Shangharsh Samity and ANR. v. Union Bank of Lndia and ORS. Official Liquidator and ORS.
- Court
- Supreme Court of India
- Citation
- 2000 INSC 334 · [2000] SUPP. 1 S.C.R. 474
- Case number
- CIVIL APPEAL No. 4706/1998
- Decided
- 11 July 2000
- Bench
- M.B. SHAH, R.P. SETHI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act
Headnote
Companies (Court) Rules, 1959: Rule 273. Winding up of company-Confirmed sale-Setting aside of­ Permissibi/ity--High Court accepted highest offer and confirmed sale­ Subsequent/y, some parties offered much higher prices-High Court directed D the parties to offer and to pay a certain amount of compensation to the original bidder and set aside the confirmation of sale­ A clause in the terms and conditions of sale empowered the High Court to set aside the confirmation of sale in the interest of creditors and/or public interest-Correctness
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