https://www.taxtmi.com/caselaws?id=104423 Dispositions of a company's immovable assets in liquidation require proper corporate authority and compliance with winding-up restrictions. Where a winding-up petition is pending, transfers made without leave of court are void against the company unless otherwise ordered, and a prior undertaking not to alienate assets further limits enforceability. A power of attorney and sale deeds executed without a general meeting resolution, and in breach of secured creditor charges and land conditions, cannot bind the company in liquidation. Purchasers must make due inquiry into company records, audit material, and encumbrances; failure to do so defeats bona fide purchaser protection and any claim for equitable validation, including lifting of attachment or leave to sue. en-us Thu, 26 Nov 1998 00:00:00 +0530 Wed, 29 Feb 2012 10:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104423 Dispositions of a company's immovable assets in liquidation require proper corporate authority and compliance with winding-up restrictions. Where a winding-up petition is pending, transfers made without leave of court are void against the company unless otherwise ordered, and a prior undertaking not to alienate assets further limits enforceability. A power of attorney and sale deeds executed without a general meeting resolution, and in breach of secured creditor charges and land conditions, cannot bind the company in liquidation. Purchasers must make due inquiry into company records, audit material, and encumbrances; failure to do so defeats bona fide purchaser protection and any claim for equitable validation, including lifting of attachment or leave to sue. Case-Laws Companies Law Thu, 26 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104423