https://www.taxtmi.com/caselaws?id=196043 An interim order allowing liquidation proceedings to continue does not dispense with a mandatory statutory requirement of prior Central Government consent, and "winding up" is construed broadly to cover liquidation proceedings. The commentary further explains that the Sick Textile Undertakings (Nationalisation) Act, 1974 operates retrospectively from the appointed day, so the legal fiction in section 2(1)(a), read with section 35, must be given full effect. On that basis, a sale ordered after the appointed day without the required consent is treated as void in law and incapable of producing legal effect. en-us Wed, 04 Jan 1978 00:00:00 +0530 Sat, 18 Nov 2017 10:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196043 An interim order allowing liquidation proceedings to continue does not dispense with a mandatory statutory requirement of prior Central Government consent, and "winding up" is construed broadly to cover liquidation proceedings. The commentary further explains that the Sick Textile Undertakings (Nationalisation) Act, 1974 operates retrospectively from the appointed day, so the legal fiction in section 2(1)(a), read with section 35, must be given full effect. On that basis, a sale ordered after the appointed day without the required consent is treated as void in law and incapable of producing legal effect. Case-Laws Indian Laws Wed, 04 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196043