https://www.taxtmi.com/caselaws?id=97463 Auction sales made under a sanctioned scheme and accepted before winding up were not void, and later conveyances merely perfected the earlier binding contract rather than constituting a fraudulent preference. By contrast, post-petition adjustments of shareholders' call money against deposits or claims were unauthorised dispositions of company assets, offended pari passu treatment, and were void under the winding-up protection provision. A chairman's statement and a court order about tea gardens did not create a charge or security interest, and without the required registration no enforceable secured status could arise against the liquidator. en-us Fri, 18 Jan 1957 00:00:00 +0530 Mon, 16 Jan 2012 17:49:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97463 Auction sales made under a sanctioned scheme and accepted before winding up were not void, and later conveyances merely perfected the earlier binding contract rather than constituting a fraudulent preference. By contrast, post-petition adjustments of shareholders' call money against deposits or claims were unauthorised dispositions of company assets, offended pari passu treatment, and were void under the winding-up protection provision. A chairman's statement and a court order about tea gardens did not create a charge or security interest, and without the required registration no enforceable secured status could arise against the liquidator. Case-Laws Companies Law Fri, 18 Jan 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97463