https://www.taxtmi.com/caselaws?id=287780 Winding-up proceedings initiated under Section 45-MC of the RBI Act are governed by the Companies Act for winding-up purposes, so an appeal lies as a continuation of that proceeding and the company appeal was maintainable. However, once winding-up had commenced, later internal authorisation and changes affecting the company's capacity to act were ineffective without leave of the Company Court. On that footing, the appeal was found to have been filed by an unauthorised person, and the preliminary objection on authorisation succeeded, resulting in dismissal of the company appeal. en-us Thu, 11 Apr 2019 00:00:00 +0530 Sat, 02 May 2020 06:36:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287780 Winding-up proceedings initiated under Section 45-MC of the RBI Act are governed by the Companies Act for winding-up purposes, so an appeal lies as a continuation of that proceeding and the company appeal was maintainable. However, once winding-up had commenced, later internal authorisation and changes affecting the company's capacity to act were ineffective without leave of the Company Court. On that footing, the appeal was found to have been filed by an unauthorised person, and the preliminary objection on authorisation succeeded, resulting in dismissal of the company appeal. Case-Laws Companies Law Thu, 11 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287780