https://www.taxtmi.com/caselaws?id=756323 An applicant seeking vacant possession and compensation in proceedings under section 446 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 must establish clear title and come with clean hands. Where reliable title documents, including a certified sale deed, are not produced and the record raises serious doubt about ownership and locus, relief may be refused. The Court also considered allegations of diversion of funds from the company in liquidation and material indicating the applicant's alignment with the erstwhile management. In those circumstances, it held that the corporate veil could be lifted to identify the real beneficiaries, and the applicant was not entitled to possession or compensation. en-us Fri, 05 Jul 2024 00:00:00 +0530 Thu, 01 Aug 2024 08:31:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756323 An applicant seeking vacant possession and compensation in proceedings under section 446 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 must establish clear title and come with clean hands. Where reliable title documents, including a certified sale deed, are not produced and the record raises serious doubt about ownership and locus, relief may be refused. The Court also considered allegations of diversion of funds from the company in liquidation and material indicating the applicant's alignment with the erstwhile management. In those circumstances, it held that the corporate veil could be lifted to identify the real beneficiaries, and the applicant was not entitled to possession or compensation. Case-Laws Companies Law Fri, 05 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756323