https://www.taxtmi.com/highlights?id=94719 HC held that a Deed of Assignment executed nearly eighteen years after commencement of winding up was void under Section 536(2) of the Companies Act. The Applicants failed to show that the transaction was in the ordinary course of business, beneficial to the company in liquidation or its creditors, or that any part of the consideration reached the company. Their reliance on Section 41 of the Transfer of Property Act was rejected, as the Official Liquidator is only a statutory custodian and not the real owner, making ostensible ownership inapplicable. The Official Liquidator's Report was allowed and the Applicants' Interim Application for ratification dismissed, with liberty to pursue a claim before the Official Liquidator. en-us Wed, 03 Dec 2025 08:57:10 +0530 Wed, 03 Dec 2025 08:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94719 HC held that a Deed of Assignment executed nearly eighteen years after commencement of winding up was void under Section 536(2) of the Companies Act. The Applicants failed to show that the transaction was in the ordinary course of business, beneficial to the company in liquidation or its creditors, or that any part of the consideration reached the company. Their reliance on Section 41 of the Transfer of Property Act was rejected, as the Official Liquidator is only a statutory custodian and not the real owner, making ostensible ownership inapplicable. The Official Liquidator's Report was allowed and the Applicants' Interim Application for ratification dismissed, with liberty to pursue a claim before the Official Liquidator. Highlights Companies Law Wed, 03 Dec 2025 08:57:10 +0530 https://www.taxtmi.com/highlights?id=94719