Supreme Court · 2000 INSC 259 · Decided 26 April 2000
Union Bank of India v. Official Liquidator H.C. of Calcutta and Ors .
- Court
- Supreme Court of India
- Citation
- 2000 INSC 259 · [2000] 3 S.C.R. 691
- Case number
- CIVIL APPEAL No. 3109/1998
- Decided
- 26 April 2000
- Bench
- M.B. SHAH, R.P. SETHI (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Evidence Act Section 45; Companies Act
Headnote
B COMPANIES ACT, 1956: Winding up proceedings-Company under liquidation-Role of the Court-Held, tlze Court acts as a custodian for the interest of the company and C tlze creditors : Section 529 : Sale of assets of company under liquidation-Sanction of-Role of Court­ Before sanctioning the sale that properties are sold at a reasonable price-It is the duty of the Court to apply its mind to the valuation repo1tforverifying whether tlze n;port indicates reasonable market value of the property to be auctioned even if objections are not raised-Unless the court is satisfied about the adequacy
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)