https://www.taxtmi.com/caselaws?id=97460 An arbitration award and a decree founded on it, made after commencement of winding up, were treated as a void disposition of company property where the award required payment by the company and created a first charge on its assets. Section 227(2) of the Indian Companies Act, 1913 rendered every post-commencement disposition void unless the court ordered otherwise. Because the award was delivered after voluntary liquidation had begun and after presentation of the winding-up petition, the decree could not stand. The court also refused to sever the award to preserve only the parts said to relate to partnership assets, leaving the claimant to prove any claim in the winding up. en-us Tue, 15 Jan 1957 00:00:00 +0530 Mon, 16 Jan 2012 17:40:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97460 An arbitration award and a decree founded on it, made after commencement of winding up, were treated as a void disposition of company property where the award required payment by the company and created a first charge on its assets. Section 227(2) of the Indian Companies Act, 1913 rendered every post-commencement disposition void unless the court ordered otherwise. Because the award was delivered after voluntary liquidation had begun and after presentation of the winding-up petition, the decree could not stand. The court also refused to sever the award to preserve only the parts said to relate to partnership assets, leaving the claimant to prove any claim in the winding up. Case-Laws Companies Law Tue, 15 Jan 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97460