https://www.taxtmi.com/caselaws?id=197333 Section 536(2) of the Companies Act, 1956 permits validation of a post-winding-up transfer only where the arrangement is bona fide, benefits the company and its creditors, and does not prejudice secured creditors or breach existing judicial or statutory restraints. On the facts discussed, validation was refused because the proposed transfer was entered into despite injunction and status quo orders, pending DRT proceedings, SARFAESI restrictions, and an undisclosed secured creditor mortgage. The article also notes that interim restraint on asset and share transfers was declined on the stated facts, but disclosure of transfer deeds, registration details, and related particulars was directed. 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 Section 536(2) of the Companies Act, 1956 permits validation of a post-winding-up transfer only where the arrangement is bona fide, benefits the company and its creditors, and does not prejudice secured creditors or breach existing judicial or statutory restraints. On the facts discussed, validation was refused because the proposed transfer was entered into despite injunction and status quo orders, pending DRT proceedings, SARFAESI restrictions, and an undisclosed secured creditor mortgage. The article also notes that interim restraint on asset and share transfers was declined on the stated facts, but disclosure of transfer deeds, registration details, and related particulars was directed. Case-Laws Companies Law Tue, 22 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197333