https://www.taxtmi.com/caselaws?id=103154 In a pending winding up petition, the court may authorise sale of a company's assets before any winding up order is made. Section 536(2) is not limited to the post-order stage, and the court may also rely on its inherent powers under section 443(1) and rule 9 of the Companies (Court) Rules, 1959 to prevent deterioration of the estate and advance justice. Where the company has stopped business, liabilities exceed assets, the parties are deadlocked, and delay would further erode value, an interim sale direction is justified as a protective measure. The application for such relief was therefore held maintainable and meritorious. en-us Fri, 31 Jul 1992 00:00:00 +0530 Tue, 21 Feb 2012 11:01:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103154 In a pending winding up petition, the court may authorise sale of a company's assets before any winding up order is made. Section 536(2) is not limited to the post-order stage, and the court may also rely on its inherent powers under section 443(1) and rule 9 of the Companies (Court) Rules, 1959 to prevent deterioration of the estate and advance justice. Where the company has stopped business, liabilities exceed assets, the parties are deadlocked, and delay would further erode value, an interim sale direction is justified as a protective measure. The application for such relief was therefore held maintainable and meritorious. Case-Laws Companies Law Fri, 31 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103154