https://www.taxtmi.com/caselaws?id=108920 An attachment obtained in civil execution does not, by itself, permit continued execution against a company after commencement of winding-up proceedings without leave of the company court, because liquidation restrictions operate from presentation of the winding-up petition. An attachment merely restrains transfer and does not create any proprietary interest or charge in favour of the decree-holder. On the facts, no effective compromise term or court-created security was shown to establish a charge, so the decree-holder did not acquire secured creditor status and execution could not be sustained against the company in liquidation. en-us Mon, 29 Oct 2001 00:00:00 +0530 Wed, 04 Apr 2012 17:25:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108920 An attachment obtained in civil execution does not, by itself, permit continued execution against a company after commencement of winding-up proceedings without leave of the company court, because liquidation restrictions operate from presentation of the winding-up petition. An attachment merely restrains transfer and does not create any proprietary interest or charge in favour of the decree-holder. On the facts, no effective compromise term or court-created security was shown to establish a charge, so the decree-holder did not acquire secured creditor status and execution could not be sustained against the company in liquidation. Case-Laws Companies Law Mon, 29 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108920