This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Asset Sale During Liquidation Valid to Meet Statutory Dues: Delhi HC
Case Law Details
- Case Name
- V. K. Sharma Vs JVG Finance Limited (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
V. K. Sharma Vs JVG Finance Limited (Delhi High Court)
Conclusion: Appellant had failed to establish locus standi to challenge orders relating to asset realisation in liquidation and the material on record clearly demonstrated that liabilities of the company far exceeded available funds, making sale of assets necessary.
Held: The company in liquidation (JVG Group) was subjected to regulatory action by the RBI in October 1997, restraining it from accepting deposits or alienating assets, followed by a compulsory winding-up petition in 1998 and appointment of a Provisional Offici...
Author Info
