https://www.taxtmi.com/caselaws?id=96625 A transfer of shares made after commencement of winding up is treated as void subject to the court's power to validate it under section 227(2) of the Companies Act, 1913; the provision applies to an actual post-commencement transfer and does not make validation unavailable where the circumstances justify it. Where shares are already subject to an effectively enforced floating charge, a purchaser in execution takes no better title than the transferor, and the debenture holders' claim prevails over the execution sale. The operative effect is that post-winding-up share transfers may be validated by the court, while an earlier enforcement of the floating charge defeats a later purchaser's title. en-us Fri, 10 Nov 1933 00:00:00 +0530 Mon, 09 Jan 2012 18:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96625 A transfer of shares made after commencement of winding up is treated as void subject to the court's power to validate it under section 227(2) of the Companies Act, 1913; the provision applies to an actual post-commencement transfer and does not make validation unavailable where the circumstances justify it. Where shares are already subject to an effectively enforced floating charge, a purchaser in execution takes no better title than the transferor, and the debenture holders' claim prevails over the execution sale. The operative effect is that post-winding-up share transfers may be validated by the court, while an earlier enforcement of the floating charge defeats a later purchaser's title. Case-Laws Companies Law Fri, 10 Nov 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96625