https://www.taxtmi.com/caselaws?id=112357 The court upheld the appointment of the official liquidator as the provisional liquidator of M/s. Punjab Wireless System Ltd., granting authority to manage the company's assets. It ruled in favor of the liquidator regarding the ownership and release of imported goods detained by the Customs Department and CWC. The court emphasized the primacy of the Companies Act over the Customs Act in the context of winding-up proceedings, clarifying the priority of creditors' claims. The liquidator's rights and obligations to handle the company's assets were affirmed, dismissing appeals by the Customs Department and CWC. en-us Thu, 18 May 2006 00:00:00 +0530 Fri, 27 Apr 2012 17:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112357 The court upheld the appointment of the official liquidator as the provisional liquidator of M/s. Punjab Wireless System Ltd., granting authority to manage the company's assets. It ruled in favor of the liquidator regarding the ownership and release of imported goods detained by the Customs Department and CWC. The court emphasized the primacy of the Companies Act over the Customs Act in the context of winding-up proceedings, clarifying the priority of creditors' claims. The liquidator's rights and obligations to handle the company's assets were affirmed, dismissing appeals by the Customs Department and CWC. Case-Laws Companies Law Thu, 18 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112357