https://www.taxtmi.com/caselaws?id=459213 The court dismissed applications challenging the provisional liquidator's authority to invite claims before a formal winding-up order, affirming the liquidator's powers under Sections 450 and 457 of the Companies Act. It concluded that the provisional liquidator, with court sanction, can invite claims, aligning with statutory provisions and prior judgments. The court clarified its jurisdiction under Section 446(2), extending to pending winding-up petitions, and instructed the provisional liquidator not to proceed beyond inviting claims until pending proceedings are resolved. This decision balances statutory interpretation with practical considerations, safeguarding creditors' interests while maintaining legal principles. en-us Tue, 22 Oct 2013 00:00:00 +0530 Thu, 05 Dec 2024 12:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459213 The court dismissed applications challenging the provisional liquidator's authority to invite claims before a formal winding-up order, affirming the liquidator's powers under Sections 450 and 457 of the Companies Act. It concluded that the provisional liquidator, with court sanction, can invite claims, aligning with statutory provisions and prior judgments. The court clarified its jurisdiction under Section 446(2), extending to pending winding-up petitions, and instructed the provisional liquidator not to proceed beyond inviting claims until pending proceedings are resolved. This decision balances statutory interpretation with practical considerations, safeguarding creditors' interests while maintaining legal principles. Case-Laws Companies Law Tue, 22 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459213