https://www.taxtmi.com/caselaws?id=257527 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 barred later winding-up petitions once the BIFR reference had been registered and rehabilitation proceedings had begun, so those petitions could not be treated as the relevant commencement of winding up under the Companies Act, 1956. On the facts, the applicant's purchase of the Free Press House premises was completed before any valid commencement date, and there was no injunction, fraud, collusion, or undervaluation. The transfers were therefore treated as bona fide dispositions protected by the Court's discretion under Section 536(2) and were not void. en-us Fri, 09 May 2014 00:00:00 +0530 Sun, 15 Mar 2015 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257527 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 barred later winding-up petitions once the BIFR reference had been registered and rehabilitation proceedings had begun, so those petitions could not be treated as the relevant commencement of winding up under the Companies Act, 1956. On the facts, the applicant's purchase of the Free Press House premises was completed before any valid commencement date, and there was no injunction, fraud, collusion, or undervaluation. The transfers were therefore treated as bona fide dispositions protected by the Court's discretion under Section 536(2) and were not void. Case-Laws Companies Law Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257527