https://www.taxtmi.com/caselaws?id=111733 The court examined applications seeking validation of sale transactions under Section 536(2) of the Companies Act, 1956. It emphasized that transactions entered into after the commencement of winding-up proceedings are generally void unless declared valid by the Company Court based on equitable considerations. The court declared transactions invalid when not in the ordinary course of business or made without court approval. Relief was granted to bona fide purchasers affected by attachment orders, with directions for refunding sale consideration with interest. en-us Wed, 21 Dec 2005 00:00:00 +0530 Sat, 28 Apr 2012 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111733 The court examined applications seeking validation of sale transactions under Section 536(2) of the Companies Act, 1956. It emphasized that transactions entered into after the commencement of winding-up proceedings are generally void unless declared valid by the Company Court based on equitable considerations. The court declared transactions invalid when not in the ordinary course of business or made without court approval. Relief was granted to bona fide purchasers affected by attachment orders, with directions for refunding sale consideration with interest. Case-Laws Companies Law Wed, 21 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111733