https://www.taxtmi.com/caselaws?id=345069 A company in liquidation retains corporate until dissolution, and its unexpired leasehold rights remain assets available for beneficial winding up unless the lease is lawfully determined or disclaimed. The Bombay HC held that mere winding up did not justify directing the Official Liquidator to hand back the leasehold open land to the lessor, particularly where the lease still had a substantial term and sale of the rights had already been permitted for creditors' benefit. It also upheld the lessor's claim for rent arrears, directing the Official Liquidator to pay the dues and continue monthly rent, while allowing a fresh valuation before any request to reduce the reserve price. en-us Fri, 23 Jun 2017 00:00:00 +0530 Fri, 07 Jul 2017 11:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345069 A company in liquidation retains corporate until dissolution, and its unexpired leasehold rights remain assets available for beneficial winding up unless the lease is lawfully determined or disclaimed. The Bombay HC held that mere winding up did not justify directing the Official Liquidator to hand back the leasehold open land to the lessor, particularly where the lease still had a substantial term and sale of the rights had already been permitted for creditors' benefit. It also upheld the lessor's claim for rent arrears, directing the Official Liquidator to pay the dues and continue monthly rent, while allowing a fresh valuation before any request to reduce the reserve price. Case-Laws Companies Law Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345069