https://www.taxtmi.com/caselaws?id=106104 A sale by a secured creditor was not void under winding-up restrictions because the asset sold had not legally vested in the company in liquidation. The decisive question was title: the land remained in the name of a partner of the former firm, had been mortgaged for the firm's loan, and the conversion into a company did not by itself transfer the immovable property. The balance sheet also showed that no registered transfer deed existed in the company's name. As the property never became company property, the bar on dealing with assets of the company in liquidation did not apply and the official liquidator had no enforceable claim. en-us Wed, 09 Aug 2000 00:00:00 +0530 Mon, 12 Mar 2012 16:27:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106104 A sale by a secured creditor was not void under winding-up restrictions because the asset sold had not legally vested in the company in liquidation. The decisive question was title: the land remained in the name of a partner of the former firm, had been mortgaged for the firm's loan, and the conversion into a company did not by itself transfer the immovable property. The balance sheet also showed that no registered transfer deed existed in the company's name. As the property never became company property, the bar on dealing with assets of the company in liquidation did not apply and the official liquidator had no enforceable claim. Case-Laws Companies Law Wed, 09 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106104