- (1.) The Court : The order impugned dated July 4, 2016 is liable to be set aside simply on the ground that it does not indicate any or adequate reasons.
(2.) There can be no judicial order which is bereft of reasons. Rule of law demands that reasons are indicated to justify an order; the views of a Judge reflected in an order are of no consequence since the views may be regarded as personal and irrelevant when they are not supported by reasons.
(3.) The appeal has been preferred by some of the contributories of the company in liquidation on the ground that the assets of the company in liquidation that were sold by the order impugned had been valued at Rs.87.20 lakh. Such position is accepted by the West Bengal Financial Corporation. However, it is evident from the order impugned that despite advertisements, offers were not received over Rs.35 lakh.;