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2018 (1) TMI 64 - HC - Companies LawPublic auction - Held that:- Condition No.16 of the terms and conditions of tender document reads as under: “16. The purchaser shall be liable to pay all statutory dues, if any, due and payable on the properties of the subject company for the period after the date of winding-up order. The payment of such dues for pre-Liquidation period shall be settled as per the provisions of the Companies Act, 1956. However dues, taxes, cess, if any, applicable on the sale of assets shall be paid by the purchaser.” The Court finds that in view of the above condition incorporated in the terms and conditions for sale of the company’s property as regards the liability to pay statutory dues and the other taxes on the property sold in public auction, no observation as requested by learned advocate Mr.Jain need to be made. The report stands disposed of accordingly.
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