https://www.taxtmi.com/caselaws?id=111612 Goods pledged with a bank remain subject to the pawnee's special property and lien under the Contract Act, so they do not become part of the company's estate merely because the pawnor enters winding up. The Court held that section 529A of the Companies Act, 1956 cannot enlarge the Official Liquidator's claim over pledged goods or their sale proceeds where the bank retains its pledge rights. Because the goods were not available for distribution as assets of the company in liquidation, competing claims of creditors could not defeat the bank's right to retain or sell the pledged goods in enforcement of the pledge. en-us Fri, 09 Jun 2006 00:00:00 +0530 Tue, 24 Apr 2012 13:02:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111612 Goods pledged with a bank remain subject to the pawnee's special property and lien under the Contract Act, so they do not become part of the company's estate merely because the pawnor enters winding up. The Court held that section 529A of the Companies Act, 1956 cannot enlarge the Official Liquidator's claim over pledged goods or their sale proceeds where the bank retains its pledge rights. Because the goods were not available for distribution as assets of the company in liquidation, competing claims of creditors could not defeat the bank's right to retain or sell the pledged goods in enforcement of the pledge. Case-Laws Companies Law Fri, 09 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111612