https://www.taxtmi.com/caselaws?id=96566 Appellate standing in company liquidation requires a present legal interest adversely affected by the refusal to sanction a compromise or arrangement. Under the Companies Act, liquidators, creditors and contributories are principally concerned and bound by a scheme during winding up, while the Court may consider creditors' and contributories' wishes. A third party that merely proposes a scheme has only a prospective and contingent interest if it is sanctioned, not a present interest in the liquidation. Participation as a party before the lower court does not itself create appellate standing. Such a proposer therefore cannot appeal refusal of scheme sanction. en-us Thu, 16 Jul 1931 00:00:00 +0530 Mon, 09 Jan 2012 13:28:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96566 Appellate standing in company liquidation requires a present legal interest adversely affected by the refusal to sanction a compromise or arrangement. Under the Companies Act, liquidators, creditors and contributories are principally concerned and bound by a scheme during winding up, while the Court may consider creditors' and contributories' wishes. A third party that merely proposes a scheme has only a prospective and contingent interest if it is sanctioned, not a present interest in the liquidation. Participation as a party before the lower court does not itself create appellate standing. Such a proposer therefore cannot appeal refusal of scheme sanction. Case-Laws Companies Law Thu, 16 Jul 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96566