https://www.taxtmi.com/caselaws?id=104537 Leave under section 446 of the Companies Act, 1956 may be granted to enable proceedings against a company in liquidation where the claim is prima facie maintainable, not shown to be barred by law, and the official liquidator raises no objection. The court applied the settled liquidation principle that claims should proceed expeditiously without unnecessary expense while protecting the company's assets. Leave was granted to the petitioner-bank to institute and pursue its claim before the Debt Recovery Tribunal, subject to the condition that execution against the company's assets and properties could not proceed without further leave of the court. en-us Wed, 21 Jan 1998 00:00:00 +0530 Wed, 29 Feb 2012 14:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104537 Leave under section 446 of the Companies Act, 1956 may be granted to enable proceedings against a company in liquidation where the claim is prima facie maintainable, not shown to be barred by law, and the official liquidator raises no objection. The court applied the settled liquidation principle that claims should proceed expeditiously without unnecessary expense while protecting the company's assets. Leave was granted to the petitioner-bank to institute and pursue its claim before the Debt Recovery Tribunal, subject to the condition that execution against the company's assets and properties could not proceed without further leave of the court. Case-Laws Companies Law Wed, 21 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104537