https://www.taxtmi.com/caselaws?id=104902 Where a bank's recovery claim was already pending before the Debts Recovery Tribunal when the company entered liquidation, leave under section 446 could be granted to continue the proceedings because no sufficient prejudice to the liquidation estate was shown. The Official Liquidator was allowed to contest the claim, and the company's estate was protected by conditions on expenses and prior permission before execution. The text states that, in these circumstances, the pending recovery action may proceed notwithstanding winding-up, subject to safeguards for the liquidation process. en-us Tue, 17 Aug 1999 00:00:00 +0530 Thu, 01 Mar 2012 17:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104902 Where a bank's recovery claim was already pending before the Debts Recovery Tribunal when the company entered liquidation, leave under section 446 could be granted to continue the proceedings because no sufficient prejudice to the liquidation estate was shown. The Official Liquidator was allowed to contest the claim, and the company's estate was protected by conditions on expenses and prior permission before execution. The text states that, in these circumstances, the pending recovery action may proceed notwithstanding winding-up, subject to safeguards for the liquidation process. Case-Laws Companies Law Tue, 17 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104902