https://www.taxtmi.com/caselaws?id=100087 A company's tenancy in premises used by its business remains an asset in liquidation and stays under the custody of the company court through the official liquidator. The stay under section 18FA of the Industries (Development and Regulation) Act, 1951 was inapplicable because the flat did not form part of the industrial undertaking taken over by the Central Government, so the objection to the winding-up process failed. An employee-occupant who entered the flat by virtue of service could not claim an independent tenancy or continue in possession after termination of employment, absent lawful surrender or disclaimer of the tenancy. The occupant was therefore treated as unauthorised and directed to vacate and deliver possession to the official liquidator. en-us Tue, 07 Jul 1981 00:00:00 +0530 Tue, 31 Jan 2012 11:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100087 A company's tenancy in premises used by its business remains an asset in liquidation and stays under the custody of the company court through the official liquidator. The stay under section 18FA of the Industries (Development and Regulation) Act, 1951 was inapplicable because the flat did not form part of the industrial undertaking taken over by the Central Government, so the objection to the winding-up process failed. An employee-occupant who entered the flat by virtue of service could not claim an independent tenancy or continue in possession after termination of employment, absent lawful surrender or disclaimer of the tenancy. The occupant was therefore treated as unauthorised and directed to vacate and deliver possession to the official liquidator. Case-Laws Companies Law Tue, 07 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100087