Supreme Court · 2015 INSC 562 · Decided 11 August 2015
M/S. Tech Invest India (PVT.) LTD. THR. Major Shareholder Rajiv Gosain v. M/S. Assam Power & Electricals LTD. and Others
- Court
- Supreme Court of India
- Citation
- 2015 INSC 562 · [2015] 9 S.C.R. 970
- Case number
- CIVIL APPEAL No. 6055/2015
- Decided
- 11 August 2015
- Bench
- M.Y. EQBAL, ARUN MISHRA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 434
Headnote
Company law: Sale of assets of company - Public auction - Stay application by company on the ground that its assets were worth Rs. 7 crores and public auction was being held without fixing the minimum reserve price after issuing only once - Company judge refused to interfere with the auction and directed the company to raise the objections at the time of confirmation of safe - In auction, respondent no.3 purchased assets for Rs. 45. 55 fakhs- High Court held that counsel representing shareholders of the, E company
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