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2010 (4) TMI 611 - HC - Companies LawWhether on the facts and circumstances the objection in regard to alienation' of the landed property which is sought to be sold on behalf of the appellants is sustainable and its effect on the alleged auction and sale ? Held that:- The entire action on the part of the company court through its official liquidator is trying to obliterate the incidents of an assigned land and trying to put to sale, are totally void ab initio. Hence, the appeal is accordingly allowed to the extent of the assigned land i.e., acres 40.65 cents situated in Survey Nos. 445-A1, 445-A5, 445-A6, 525, 527 and 529-A of Kodurupadu village of Nellore Mandal and District. The application filed by the official liquidator under section 457(1)(c) of the Companies Act, 1956, for permission to sell the land in question is dismissed and the alleged auction conducted subsequent thereto is set aside. However, we make it clear that the company can be proceeded against other assets, if any
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