https://www.taxtmi.com/caselaws?id=104562 Leave under section 446 of the Companies Act, 1956 may be granted by the company court to permit a creditor to pursue a statutory remedy before the Debt Recovery Tribunal while the company is in winding up. The court's discretion is exercised to balance protection of the company's assets in liquidation with expeditious prosecution of proceedings in another forum where no legal bar is shown. Such leave may be granted conditionally or unconditionally depending on the facts. In this instance, leave was granted to the bank to file and pursue proceedings before the Debt Recovery Tribunal, subject to the condition that any recovery certificate or decree could not be executed against the company's assets without further specific leave. en-us Fri, 06 Feb 1998 00:00:00 +0530 Wed, 29 Feb 2012 15:54:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104562 Leave under section 446 of the Companies Act, 1956 may be granted by the company court to permit a creditor to pursue a statutory remedy before the Debt Recovery Tribunal while the company is in winding up. The court's discretion is exercised to balance protection of the company's assets in liquidation with expeditious prosecution of proceedings in another forum where no legal bar is shown. Such leave may be granted conditionally or unconditionally depending on the facts. In this instance, leave was granted to the bank to file and pursue proceedings before the Debt Recovery Tribunal, subject to the condition that any recovery certificate or decree could not be executed against the company's assets without further specific leave. Case-Laws Companies Law Fri, 06 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104562