https://www.taxtmi.com/caselaws?id=113345 Once a winding-up order is passed and an official liquidator is appointed, the company's assets come under the control of the company court, and section 446 of the Companies Act, 1956 bars separate proceedings against the company or its property without leave. The provision is intended to ensure that claims are resolved in winding up and that creditors are treated equitably rather than allowing one creditor to obtain an undue advantage through independent execution or attachment. Accordingly, execution and attachment proceedings before the consumer forum against the property of the company in liquidation were unsustainable, and the attachment was raised. en-us Thu, 15 Apr 2010 00:00:00 +0530 Sat, 11 Oct 2014 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113345 Once a winding-up order is passed and an official liquidator is appointed, the company's assets come under the control of the company court, and section 446 of the Companies Act, 1956 bars separate proceedings against the company or its property without leave. The provision is intended to ensure that claims are resolved in winding up and that creditors are treated equitably rather than allowing one creditor to obtain an undue advantage through independent execution or attachment. Accordingly, execution and attachment proceedings before the consumer forum against the property of the company in liquidation were unsustainable, and the attachment was raised. Case-Laws Companies Law Thu, 15 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113345