https://www.taxtmi.com/caselaws?id=113635 A transfer of immovable property made in breach of a court-sanctioned compromise scheme and subsisting judicial directions cannot be recognised in law. The High Court held that a subsequent purchaser's plea of good faith, consideration, or lack of notice could not validate a transfer that defied an operative court order. Section 53 of the Transfer of Property Act, 1882 was held inapplicable because the case involved violation of a judicial mandate, not merely a fraudulent inter partes transfer. The transactions were treated as collusive and intended to defeat creditors, and the property was to be dealt with by court auction if the required deposits were not made, with proceeds applied for creditors' benefit. en-us Thu, 07 Jan 2010 00:00:00 +0530 Sat, 18 Oct 2014 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113635 A transfer of immovable property made in breach of a court-sanctioned compromise scheme and subsisting judicial directions cannot be recognised in law. The High Court held that a subsequent purchaser's plea of good faith, consideration, or lack of notice could not validate a transfer that defied an operative court order. Section 53 of the Transfer of Property Act, 1882 was held inapplicable because the case involved violation of a judicial mandate, not merely a fraudulent inter partes transfer. The transactions were treated as collusive and intended to defeat creditors, and the property was to be dealt with by court auction if the required deposits were not made, with proceeds applied for creditors' benefit. Case-Laws Companies Law Thu, 07 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113635