https://www.taxtmi.com/caselaws?id=102343 Section 450(1) of the Companies Act, 1956 is noted as empowering the company court to appoint a provisional liquidator at any time after presentation of a winding-up petition, and Rule 106 of the Companies (Court) Rules, 1959 is described as procedural only. The commentary records that where the materials show prima facie lack of probity, suspicious dealings with company assets, and prejudice to minority shareholders, the court may invoke the just and equitable principle to preserve the company's assets pending final decision. It also notes that, on such facts, a mere injunction may be inadequate and appointment of a provisional liquidator may be considered necessary. en-us Wed, 16 Dec 1992 00:00:00 +0530 Tue, 14 Feb 2012 15:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102343 Section 450(1) of the Companies Act, 1956 is noted as empowering the company court to appoint a provisional liquidator at any time after presentation of a winding-up petition, and Rule 106 of the Companies (Court) Rules, 1959 is described as procedural only. The commentary records that where the materials show prima facie lack of probity, suspicious dealings with company assets, and prejudice to minority shareholders, the court may invoke the just and equitable principle to preserve the company's assets pending final decision. It also notes that, on such facts, a mere injunction may be inadequate and appointment of a provisional liquidator may be considered necessary. Case-Laws Companies Law Wed, 16 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102343