https://www.taxtmi.com/caselaws?id=198302 The appeal challenging the validity of an attachment order dated April 21, 2007, and the legitimacy of a transaction between the appellants and M/s. Arsh International Chemical Pvt. Ltd. was dismissed. The court held that the transaction was void under Sections 536(2) and 537(1) of the Companies Act, 1956, as it occurred after the winding-up petition was filed. The court found that the transaction was not in good faith as the directors were aware of the winding-up proceedings and attempted to keep valuable assets from the court and Official Liquidator. The appellants were advised to pursue substantive proceedings for appropriate declarations and reliefs regarding their title. en-us Mon, 22 Mar 2010 00:00:00 +0530 Mon, 29 Jan 2018 10:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198302 The appeal challenging the validity of an attachment order dated April 21, 2007, and the legitimacy of a transaction between the appellants and M/s. Arsh International Chemical Pvt. Ltd. was dismissed. The court held that the transaction was void under Sections 536(2) and 537(1) of the Companies Act, 1956, as it occurred after the winding-up petition was filed. The court found that the transaction was not in good faith as the directors were aware of the winding-up proceedings and attempted to keep valuable assets from the court and Official Liquidator. The appellants were advised to pursue substantive proceedings for appropriate declarations and reliefs regarding their title. Case-Laws Companies Law Mon, 22 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198302