https://www.taxtmi.com/caselaws?id=113888 The Court dismissed both applications in the case. The claim for recovery of mesne profit was rejected as possession was retained by the company, and insufficient evidence supported the claim. The application seeking validation of the transaction under the Memorandum of Understanding (MoU) was also dismissed as the transaction was deemed a fraudulent preference under Section 531 of the Companies Act, 1956. en-us Thu, 06 Aug 2009 00:00:00 +0530 Mon, 03 Nov 2014 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113888 The Court dismissed both applications in the case. The claim for recovery of mesne profit was rejected as possession was retained by the company, and insufficient evidence supported the claim. The application seeking validation of the transaction under the Memorandum of Understanding (MoU) was also dismissed as the transaction was deemed a fraudulent preference under Section 531 of the Companies Act, 1956. Case-Laws Companies Law Thu, 06 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113888