https://www.taxtmi.com/caselaws?id=768201 A sale agreement executed after commencement of winding up proceedings, but before the winding up order, was treated as incomplete and inchoate because stamp duty, registration and required permissions remained unfulfilled, so it could not be validated under Section 536(2) of the Companies Act, 1956. The transaction was also found not bona fide or fair, as the consideration was below the valuation material and earlier bank correspondence. No charge arose under Section 55(6)(b) of the Transfer of Property Act, 1882, because the purchaser had not performed the contractual obligations. Section 53A protection was unavailable because the contract was unregistered under Section 17(1A) of the Registration Act, 1908. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768201 A sale agreement executed after commencement of winding up proceedings, but before the winding up order, was treated as incomplete and inchoate because stamp duty, registration and required permissions remained unfulfilled, so it could not be validated under Section 536(2) of the Companies Act, 1956. The transaction was also found not bona fide or fair, as the consideration was below the valuation material and earlier bank correspondence. No charge arose under Section 55(6)(b) of the Transfer of Property Act, 1882, because the purchaser had not performed the contractual obligations. Section 53A protection was unavailable because the contract was unregistered under Section 17(1A) of the Registration Act, 1908. Case-Laws Companies Law Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768201