Supreme Court · 2008 INSC 925 · Decided 12 August 2008
Valji Khimji and Company v. Official Liquidator of Hindustan Nitro Product (Gujarat) LTD. and Ors
- Court
- Supreme Court of India
- Citation
- 2008 INSC 925 · [2008] 12 S.C.R. 1
- Case number
- CIVIL APPEAL No. 4992/2008
- Decided
- 12 August 2008
- Bench
- ALTAMAS KABIR, MARKANDEY KATJU (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
A B Company Jaw: Auction sale of assets of liquidated com­ pany - After advertisement in well known newspapers having c wide circulation - Highest bid accepted and sale confirmed :..... Subsequent fresh offer by two companies at higher price - Recalling of order by High Court - Correctness of - Held: Not correct as there was nothing to show that there was fraud or collusion in auction - sale - Once D sale is confirmed, certain rights accrued in favour of auction - purchaser which could not be extinguished except in excep­ tional case such as fraud.
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