https://www.taxtmi.com/caselaws?id=101923 The High Court of Bombay, in a case involving post-winding up tenancy agreements, upheld the official liquidator's right to void transactions under section 536(2) of the Companies Act. The court ordered the applicants to surrender possession despite their claim for a Rs. 40 lakh security deposit refund under the Contract Act. Emphasizing that security deposits were not held in trust, the court treated the applicants as ordinary creditors, citing relevant legal precedents. A dispute over actual deposit payments led to the court directing the applicants to submit refund claims for equal treatment with other unsecured creditors. en-us Thu, 30 Nov 1989 00:00:00 +0530 Mon, 13 Feb 2012 11:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101923 The High Court of Bombay, in a case involving post-winding up tenancy agreements, upheld the official liquidator's right to void transactions under section 536(2) of the Companies Act. The court ordered the applicants to surrender possession despite their claim for a Rs. 40 lakh security deposit refund under the Contract Act. Emphasizing that security deposits were not held in trust, the court treated the applicants as ordinary creditors, citing relevant legal precedents. A dispute over actual deposit payments led to the court directing the applicants to submit refund claims for equal treatment with other unsecured creditors. Case-Laws Companies Law Thu, 30 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101923