https://www.taxtmi.com/caselaws?id=101561 The court held that it had jurisdiction to grant leave for disposition of assets under section 536(2) of the Companies Act, even before a winding-up order was passed. It emphasized the need to balance preventing improper dispositions with validating genuine transactions in the company's best interest. The court found the company's application to be made in good faith and permitted it to create a charge over its movable properties in favor of financial institutions, despite opposition from some creditors. en-us Tue, 05 Apr 1988 00:00:00 +0530 Fri, 10 Feb 2012 12:12:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101561 The court held that it had jurisdiction to grant leave for disposition of assets under section 536(2) of the Companies Act, even before a winding-up order was passed. It emphasized the need to balance preventing improper dispositions with validating genuine transactions in the company's best interest. The court found the company's application to be made in good faith and permitted it to create a charge over its movable properties in favor of financial institutions, despite opposition from some creditors. Case-Laws Companies Law Tue, 05 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101561