https://www.taxtmi.com/caselaws?id=97058 A defensive or incidental claim filed by a third party within execution proceedings does not qualify as an "other legal proceeding" requiring leave under section 171 of the Companies Act; the legal principle applied distinguishes independent proceedings prosecuted against a company in liquidation from counterclaims or incidental defences raised in execution, and holds that the latter may be entertained without leave. The operative effect is that claims functioning as defenses in execution initiated by the liquidator can be adjudicated in those proceedings without invoking the leave requirement, preserving the parity objective among unsecured creditors. en-us Tue, 04 Apr 1950 00:00:00 +0530 Fri, 13 Jan 2012 18:06:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97058 A defensive or incidental claim filed by a third party within execution proceedings does not qualify as an "other legal proceeding" requiring leave under section 171 of the Companies Act; the legal principle applied distinguishes independent proceedings prosecuted against a company in liquidation from counterclaims or incidental defences raised in execution, and holds that the latter may be entertained without leave. The operative effect is that claims functioning as defenses in execution initiated by the liquidator can be adjudicated in those proceedings without invoking the leave requirement, preserving the parity objective among unsecured creditors. Case-Laws Companies Law Tue, 04 Apr 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97058