https://www.taxtmi.com/caselaws?id=96876 In proceedings under section 171 of the Indian Companies Act, the winding-up court could examine the validity of an assignment affecting company property and was not confined to section 231 alone; section 229 imported the relevant insolvency rules protecting creditors, so the jurisdictional objection failed. The court also found that Balak Ram was not shown to have any valid power of attorney or lawful authority from the directors to execute the deed of transfer, and the suspicious circumstances were unsupported by reliable proof. The assignment was therefore invalid, and the refusal of leave was upheld. en-us Tue, 07 Apr 1942 00:00:00 +0630 Wed, 11 Jan 2012 17:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96876 In proceedings under section 171 of the Indian Companies Act, the winding-up court could examine the validity of an assignment affecting company property and was not confined to section 231 alone; section 229 imported the relevant insolvency rules protecting creditors, so the jurisdictional objection failed. The court also found that Balak Ram was not shown to have any valid power of attorney or lawful authority from the directors to execute the deed of transfer, and the suspicious circumstances were unsupported by reliable proof. The assignment was therefore invalid, and the refusal of leave was upheld. Case-Laws Companies Law Tue, 07 Apr 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96876