https://www.taxtmi.com/caselaws?id=196127 A landlord holding a security deposit from a company in liquidation may adjust arrears of rent and other recoverable tenancy dues against that deposit, because the deposit and the tenant's obligations constitute mutual dealings attracting set-off under section 46 of the Provincial Insolvency Act, 1920 as applied in winding-up proceedings. The right of set-off was treated as extending to rent and allied charges accruing after the winding-up order as well as earlier dues. The landlord was therefore not required to remit the security deposit to the Official Liquidator before possession was returned, and was entitled to retain and adjust the deposit against the outstanding liabilities. en-us Fri, 17 Dec 2004 00:00:00 +0530 Mon, 20 Nov 2017 12:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196127 A landlord holding a security deposit from a company in liquidation may adjust arrears of rent and other recoverable tenancy dues against that deposit, because the deposit and the tenant's obligations constitute mutual dealings attracting set-off under section 46 of the Provincial Insolvency Act, 1920 as applied in winding-up proceedings. The right of set-off was treated as extending to rent and allied charges accruing after the winding-up order as well as earlier dues. The landlord was therefore not required to remit the security deposit to the Official Liquidator before possession was returned, and was entitled to retain and adjust the deposit against the outstanding liabilities. Case-Laws Indian Laws Fri, 17 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196127