https://www.taxtmi.com/caselaws?id=197331 The Court affirmed its jurisdiction under Section 536(2) of the Companies Act, 1956, to authorize dispositions of a company's property during a winding-up petition, even without a winding-up order. Emphasizing the need to balance creditor and company interests, the Court highlighted the importance of allowing such transactions under scrutiny. Drawing on English law, the Court criticized a previous decision and clarified its authority to approve dispositions pre-winding-up order, safeguarding creditors' rights while enabling legitimate business transactions. en-us Tue, 01 Feb 1972 00:00:00 +0530 Wed, 03 Jan 2018 16:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197331 The Court affirmed its jurisdiction under Section 536(2) of the Companies Act, 1956, to authorize dispositions of a company's property during a winding-up petition, even without a winding-up order. Emphasizing the need to balance creditor and company interests, the Court highlighted the importance of allowing such transactions under scrutiny. Drawing on English law, the Court criticized a previous decision and clarified its authority to approve dispositions pre-winding-up order, safeguarding creditors' rights while enabling legitimate business transactions. Case-Laws Companies Law Tue, 01 Feb 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197331