https://www.taxtmi.com/caselaws?id=104683 The court upheld the validity of the order allowing the respondent to transfer assets under section 536(2) of the Companies Act, 1956. It found no mala fide intent behind the transfer, noting that the decision was made before the winding-up petition and was not to defraud creditors. The court considered the impact on the appellant bank as a creditor but emphasized the need for financial restructuring. It also deemed the price and method of transfer adequate, dismissing the appeal and rejecting the stay order request. en-us Mon, 13 Mar 2000 00:00:00 +0530 Wed, 29 Feb 2012 18:53:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104683 The court upheld the validity of the order allowing the respondent to transfer assets under section 536(2) of the Companies Act, 1956. It found no mala fide intent behind the transfer, noting that the decision was made before the winding-up petition and was not to defraud creditors. The court considered the impact on the appellant bank as a creditor but emphasized the need for financial restructuring. It also deemed the price and method of transfer adequate, dismissing the appeal and rejecting the stay order request. Case-Laws Companies Law Mon, 13 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104683