https://www.taxtmi.com/caselaws?id=197333 Validation of post-winding-up property transfers under Section 536(2) of the Companies Act, 1956 depends on bona fides, benefit to the company and creditors, and absence of prejudice to secured creditors. Proposed transfers made despite injunctions, status quo directions, pending debt-recovery proceedings, SARFAESI restraints, and mortgages in favour of an unjoined secured creditor lacked candour and were refused validation. Although an injunction against subsidiary-share transfers was declined because transfers were stated to be complete, full disclosure of transfer deeds, registration details, and related particulars was required. The request concerning an AGM agenda was closed after confirmation that no such agenda existed. en-us Tue, 22 Dec 2009 00:00:00 +0530 Wed, 03 Jan 2018 16:57:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197333 Validation of post-winding-up property transfers under Section 536(2) of the Companies Act, 1956 depends on bona fides, benefit to the company and creditors, and absence of prejudice to secured creditors. Proposed transfers made despite injunctions, status quo directions, pending debt-recovery proceedings, SARFAESI restraints, and mortgages in favour of an unjoined secured creditor lacked candour and were refused validation. Although an injunction against subsidiary-share transfers was declined because transfers were stated to be complete, full disclosure of transfer deeds, registration details, and related particulars was required. The request concerning an AGM agenda was closed after confirmation that no such agenda existed. Case-Laws Companies Law Tue, 22 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197333