https://www.taxtmi.com/caselaws?id=113874 A company's leasehold interest survives winding up as a transferable asset, and the official liquidator may remain in possession as lessee so long as the lease obligations continue to be observed. Winding up by itself does not give the lessor an immediate right to repossess the plot or treat the liquidator's possession as illegal or void. The leasehold rights are saleable, but any sale must take account of the continuing dues under the lease deed, which the liquidator must settle with the lessor during occupation. Local tax liability was treated separately under section 530 of the Companies Act, 1956. The relief was therefore limited to settlement of dues and sale arrangements, and possession was denied. en-us Mon, 03 Aug 2009 00:00:00 +0530 Tue, 04 Nov 2014 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113874 A company's leasehold interest survives winding up as a transferable asset, and the official liquidator may remain in possession as lessee so long as the lease obligations continue to be observed. Winding up by itself does not give the lessor an immediate right to repossess the plot or treat the liquidator's possession as illegal or void. The leasehold rights are saleable, but any sale must take account of the continuing dues under the lease deed, which the liquidator must settle with the lessor during occupation. Local tax liability was treated separately under section 530 of the Companies Act, 1956. The relief was therefore limited to settlement of dues and sale arrangements, and possession was denied. Case-Laws Companies Law Mon, 03 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113874