https://www.taxtmi.com/caselaws?id=98714 The court concluded that it has no jurisdiction to entertain applications for validating transactions made by the company before a winding-up order is made. The applications filed by the Gujarat State Textile Corporation for permission to create mortgages on the company's immovable properties were dismissed, and the rule was discharged with costs. The court emphasized that the jurisdiction under Section 536(2) can only be invoked after the company is ordered to be wound up, ensuring that the liquidator has the opportunity to review the transactions. en-us Tue, 07 Jul 1970 00:00:00 +0530 Sat, 21 Jan 2012 17:04:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98714 The court concluded that it has no jurisdiction to entertain applications for validating transactions made by the company before a winding-up order is made. The applications filed by the Gujarat State Textile Corporation for permission to create mortgages on the company's immovable properties were dismissed, and the rule was discharged with costs. The court emphasized that the jurisdiction under Section 536(2) can only be invoked after the company is ordered to be wound up, ensuring that the liquidator has the opportunity to review the transactions. Case-Laws Companies Law Tue, 07 Jul 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98714