https://www.taxtmi.com/caselaws?id=98328 In a members' voluntary winding-up, the court may stay revenue recovery proceedings for cess where those proceedings are treated as legal proceedings within section 446 and the company court powers are extended by section 518(1)(b). The stay is appropriate when immediate coercive recovery would prejudice the orderly realisation of assets and disadvantage other creditors. On the facts, the company's assets were charged, the stock-in-trade was unfinished and unlikely to fetch a fair distress-sale price, and the solvency declaration indicated that creditors would likely be paid in full through the winding-up. The recovery proceedings were therefore restrained to protect the liquidation process. en-us Mon, 14 Mar 1966 00:00:00 +0530 Fri, 20 Jan 2012 11:47:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98328 In a members' voluntary winding-up, the court may stay revenue recovery proceedings for cess where those proceedings are treated as legal proceedings within section 446 and the company court powers are extended by section 518(1)(b). The stay is appropriate when immediate coercive recovery would prejudice the orderly realisation of assets and disadvantage other creditors. On the facts, the company's assets were charged, the stock-in-trade was unfinished and unlikely to fetch a fair distress-sale price, and the solvency declaration indicated that creditors would likely be paid in full through the winding-up. The recovery proceedings were therefore restrained to protect the liquidation process. Case-Laws Companies Law Mon, 14 Mar 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98328