https://www.taxtmi.com/caselaws?id=440974 A permanent stay of winding up proceedings does not erase the winding up order; the proceeding remains in suspended animation, so the Company Court retains jurisdiction to deal with the liquidation estate and related applications. In a court-conducted sale under liquidation, timely payment of the balance consideration is a material condition: prolonged default, even with possession and incidental benefits, justified of equitable indulgence, denial of conveyance and related reliefs, forfeiture of part consideration, and treatment of the sale as a nullity, with the estate restored to the Official Liquidator for further action. en-us Fri, 28 Jul 2023 00:00:00 +0530 Mon, 31 Jul 2023 06:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440974 A permanent stay of winding up proceedings does not erase the winding up order; the proceeding remains in suspended animation, so the Company Court retains jurisdiction to deal with the liquidation estate and related applications. In a court-conducted sale under liquidation, timely payment of the balance consideration is a material condition: prolonged default, even with possession and incidental benefits, justified of equitable indulgence, denial of conveyance and related reliefs, forfeiture of part consideration, and treatment of the sale as a nullity, with the estate restored to the Official Liquidator for further action. Case-Laws Companies Law Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440974