Corporate Laws

Companies Act, 1956

— Ss. 457(1)(c) & (3) and 443 — Sale of assets of company under liquidation — Confirmation of, in favour of Company W — Setting aside of, and confirmation of a fresh sale in respect of the said assets in favour of Company S — Allowed by Supreme Court, not on merits, but in pursuance of a negotiated settlement arrived at among the parties concerned which was beneficial to everyone, (2006) 7 SCC 233-A

Constitution of India

— Art. 142 — Power under — Exercise of — Grant of relief, not on merits, but in pursuance of a negotiated settlement arrived at among the parties concerned which was beneficial to everyone, (2006) 7 SCC 233-B