https://www.taxtmi.com/caselaws?id=114047 A revival scheme in liquidation may be upheld where it is bona fide, commercially viable, and aimed at genuine rehabilitation rather than asset disposal; the text notes that separate arrangement meetings were not treated as fatal where affected interests had already been considered. Proceedings affecting a company's assets after winding up cannot be enforced without company court control, so a post-winding-up decree was described as unenforceable without leave, while refund of advance amounts with interest and a corresponding charge was recognised. Claims not included in the adjudicated liability could not be expanded in liquidation, and an unsuccessful auction purchaser whose sale was not confirmed was entitled to refund with compensation rather than sale confirmation. en-us Thu, 19 Mar 2009 00:00:00 +0530 Thu, 10 May 2012 12:48:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114047 A revival scheme in liquidation may be upheld where it is bona fide, commercially viable, and aimed at genuine rehabilitation rather than asset disposal; the text notes that separate arrangement meetings were not treated as fatal where affected interests had already been considered. Proceedings affecting a company's assets after winding up cannot be enforced without company court control, so a post-winding-up decree was described as unenforceable without leave, while refund of advance amounts with interest and a corresponding charge was recognised. Claims not included in the adjudicated liability could not be expanded in liquidation, and an unsuccessful auction purchaser whose sale was not confirmed was entitled to refund with compensation rather than sale confirmation. Case-Laws Companies Law Thu, 19 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114047