https://www.taxtmi.com/caselaws?id=213733 The court upheld the validation of share transfers post-winding up order, deeming them bona fide and in the company's interest. It ruled that Section 108 of the Companies Act did not apply to companies under liquidation. Allegations of fraud were dismissed as the agreements were voluntarily entered into. The transactions were considered bona fide due to the company's financial situation. The court found the transfers to be in the public interest, dismissing appeals and ordering appellants to pay costs of Rs. 10,000/- per appeal. en-us Tue, 01 May 2012 00:00:00 +0530 Mon, 04 Jun 2012 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213733 The court upheld the validation of share transfers post-winding up order, deeming them bona fide and in the company's interest. It ruled that Section 108 of the Companies Act did not apply to companies under liquidation. Allegations of fraud were dismissed as the agreements were voluntarily entered into. The transactions were considered bona fide due to the company's financial situation. The court found the transfers to be in the public interest, dismissing appeals and ordering appellants to pay costs of Rs. 10,000/- per appeal. Case-Laws Companies Law Tue, 01 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213733