Supreme Court of India

Divya Manufacturing Co. (p) Ltd. Tirupati Woollen Mills Shramik Shangharsh Samity and Anr. v. Union Bank of Lndia and Ors. Official Liquidator and Ors.

Neutral citation

Reported as [2000] SUPP. 1 S.C.R. 474

Bench M.B. Shah and R.P. Sethi JJ.

Decided 11 July 2000

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.

4 Supreme Court benches have cited this judgment.

What the Court ordered

In the result, Civil Appeal No. 4706 of 1998 filed by 'Divya' and Civil G Appeal No. 4707of1998 filed by the 'Samity' stand dismissed.

Judgment, page 12

From the 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 the parties to deposit 20% of their offer and to pay a certain amount of compensation to the original bidder and set aside the confirmation of sale 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 of-Held: High Court rightly set aside

Authorities it was built on

1969 Navalkha & Sons v. Sri Ramanya Das & Ors. cited by 8

Where later benches applied it

2012 Ram Kishun and Ors. v. State of U.P. and Ors. relied on
2023 Rajiv Kumar Jindal and Others v. Bci Staff Colony Residential Welfare Association and Others referred to
2022 K. Kumara Gupta v. Sri Markendaya and Sri Omkareswara Swamy Temple & Ors referred to
2015 Vedicaprocon Private Limited v. Balleshwar Greens Private Limited & Others referred to

Of those, 1 relied on · 3 referred to

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