Supreme Court of India
Union Bank of India v. Official Liquidator H.C. of Calcutta and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
For the reasons stated, same would be the position in the present case.
Judgment, page 16
From the headnote
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 tlze creditors : Section 529 : Sale of assets of company under liquidation-Sanction of-Role of Court Before sanctioning the sale of its assets, the Court is required to exercise judicial discretion to see 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
Where later benches applied it
- 2012 Ram Kishun and Ors. v. State of U.P. and Ors.
- 2022 K. Kumara Gupta v. Sri Markendaya and Sri Omkareswara Swamy Temple & Ors
Of those, 1 relied on · 1 referred to
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