https://www.taxtmi.com/caselaws?id=756143 Delhi HC allowed applicant company's application for de-sealing and possession of property from Official Liquidator. Court found the sale agreement for shareholding transfer was executed in ordinary course of business prior to winding up petition, with no evidence of bad faith, collusion, or conspiracy. Since shareholding rights did not materialize in favor of the company in liquidation, and only groundbreaking ceremony occurred with no actual construction, the property could not be made available to Official Liquidator for winding up proceedings. Court directed de-sealing and peaceful possession handover to applicant company. en-us Tue, 16 Apr 2024 00:00:00 +0530 Sat, 27 Jul 2024 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756143 Delhi HC allowed applicant company's application for de-sealing and possession of property from Official Liquidator. Court found the sale agreement for shareholding transfer was executed in ordinary course of business prior to winding up petition, with no evidence of bad faith, collusion, or conspiracy. Since shareholding rights did not materialize in favor of the company in liquidation, and only groundbreaking ceremony occurred with no actual construction, the property could not be made available to Official Liquidator for winding up proceedings. Court directed de-sealing and peaceful possession handover to applicant company. Case-Laws Companies Law Tue, 16 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756143