https://www.taxtmi.com/caselaws?id=780127 An agreement to sell immovable property does not by itself create any interest, charge, or proprietary right in the property, so a company in liquidation and its alleged unit holders could not claim ownership through that agreement. Where the contract makes timely payment essential and expressly provides for termination, liquidated damages, and forfeiture on prolonged default, those contractual consequences may be enforced on default. Unsupported allegations of collusion did not alter the result, and revival-scheme claims failed because the company had no ownership in the lease plot. The respondent's right to prove actual loss was also preserved where necessary. en-us Thu, 09 Oct 2025 00:00:00 +0530 Fri, 24 Oct 2025 09:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780127 An agreement to sell immovable property does not by itself create any interest, charge, or proprietary right in the property, so a company in liquidation and its alleged unit holders could not claim ownership through that agreement. Where the contract makes timely payment essential and expressly provides for termination, liquidated damages, and forfeiture on prolonged default, those contractual consequences may be enforced on default. Unsupported allegations of collusion did not alter the result, and revival-scheme claims failed because the company had no ownership in the lease plot. The respondent's right to prove actual loss was also preserved where necessary. Case-Laws Companies Law Thu, 09 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780127