https://www.taxtmi.com/caselaws?id=109427 In a winding-up proceeding, the Company Court may exercise its statutory jurisdiction under the Companies Act, read with the Companies (Court) Rules, and use inherent powers only in aid of that jurisdiction to protect the liquidation estate. Where an earlier transfer of company property is found invalid, the court may examine a later transfer connected to it and mould equitable relief. The Court balanced the liquidation estate against the interests of a bona fide purchaser by directing refund of consideration to the Official Liquidator, valuation of the flat as on the purchase date, and payment of any shortfall by the purchaser, while restraining sealing of the residential premises. en-us Fri, 26 Sep 2003 00:00:00 +0530 Tue, 10 Apr 2012 10:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109427 In a winding-up proceeding, the Company Court may exercise its statutory jurisdiction under the Companies Act, read with the Companies (Court) Rules, and use inherent powers only in aid of that jurisdiction to protect the liquidation estate. Where an earlier transfer of company property is found invalid, the court may examine a later transfer connected to it and mould equitable relief. The Court balanced the liquidation estate against the interests of a bona fide purchaser by directing refund of consideration to the Official Liquidator, valuation of the flat as on the purchase date, and payment of any shortfall by the purchaser, while restraining sealing of the residential premises. Case-Laws Companies Law Fri, 26 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109427