https://www.taxtmi.com/caselaws?id=110931 Dispositions made after commencement of a winding up petition are void under the statutory standard applicable to winding up; that standard is stricter than the nearer period transaction rule. On the stated facts the petition preceded the irrevocable power of attorney and subsequent sale deeds, and there is no evidence of an agreement predating presentation to cause relation back. No lawful basis or equitable reason was shown to prefer the applicants over other creditors. Consequently the post presentation transactions are treated as void and the applications to recall the sale were not sustained. en-us Thu, 28 Jul 2005 00:00:00 +0530 Thu, 19 Apr 2012 12:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110931 Dispositions made after commencement of a winding up petition are void under the statutory standard applicable to winding up; that standard is stricter than the nearer period transaction rule. On the stated facts the petition preceded the irrevocable power of attorney and subsequent sale deeds, and there is no evidence of an agreement predating presentation to cause relation back. No lawful basis or equitable reason was shown to prefer the applicants over other creditors. Consequently the post presentation transactions are treated as void and the applications to recall the sale were not sustained. Case-Laws Companies Law Thu, 28 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110931