https://www.taxtmi.com/caselaws?id=112034 The High Court of Gujarat ruled in favor of the applicant, M/s. Hawa Controls, declaring them as bona fide purchasers of certain properties from a company in liquidation. The Court found no evidence of fraud or inadequate consideration in the transaction under the Companies Act, 1956. It highlighted the burden of proof on the Official Liquidator or creditors to establish fraudulent intent, which was not demonstrated in this case. The Court directed the Official Liquidator not to take possession of the properties, emphasizing the need to prove fraudulent transactions involving companies in liquidation. en-us Wed, 12 Dec 2007 00:00:00 +0530 Thu, 18 Dec 2014 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112034 The High Court of Gujarat ruled in favor of the applicant, M/s. Hawa Controls, declaring them as bona fide purchasers of certain properties from a company in liquidation. The Court found no evidence of fraud or inadequate consideration in the transaction under the Companies Act, 1956. It highlighted the burden of proof on the Official Liquidator or creditors to establish fraudulent intent, which was not demonstrated in this case. The Court directed the Official Liquidator not to take possession of the properties, emphasizing the need to prove fraudulent transactions involving companies in liquidation. Case-Laws Companies Law Wed, 12 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112034