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2018 (4) TMI 486 - HC - Companies LawSale conducted become void under provisions of Section 536 of the Companies Act, 1953 - Held that:- Learned Judge in the company court has not gone deep into the above said aspects. Question as to whether the sale itself was void ab initio by virtue of provisions contained in Section 537 (1) (b) or under Section 536 (2); or as to whether there existed any reasons to hold the sale otherwise than void, has not been seen examined. The factual aspects like, whether there was notice about the winding up proceedings, either direct or constructive, whether the sale was conducted for any reasonable price, whether the purchase was bonafide or not etc: are matters which are relevant to be considered. Appellant had pleaded for a decision on the above said aspects by this court itself, in exercise of the appellate jurisdiction, we are of the opinion that such a course may end in denying the right of appeal to any one of the parties. Hence we are of the opinion that the matter can be relegated for a fresh decision by the company court itself. The order of the company court impugned in this appeal, passed on Report No.1 is hereby set aside. The report of the Official Liquidator is remitted for fresh consideration and disposal by the company court.
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