https://www.taxtmi.com/caselaws?id=468477 Monthly tenancy rights and unexpired leasehold interests of a company in liquidation are treated as valuable assets available for realisation in winding-up. Where the Official Liquidator acts with the Court's sanction, the sale or assignment is an involuntary transfer by operation of law, not a voluntary transfer by the company. On that basis, the Companies Act, 1956 and the Companies (Court) Rules permit such disposition for beneficial winding-up, and the West Bengal Premises Tenancy Act, 1956 and the Transfer of Property Act do not bar it in these circumstances. Objections based on forfeiture or re-entry clauses do not defeat the Court's power to realise the assets, and acceptance of rent after the relevant events may amount to waiver where the facts justify it. en-us Wed, 03 Jun 1981 00:00:00 +0530 Fri, 08 May 2026 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468477 Monthly tenancy rights and unexpired leasehold interests of a company in liquidation are treated as valuable assets available for realisation in winding-up. Where the Official Liquidator acts with the Court's sanction, the sale or assignment is an involuntary transfer by operation of law, not a voluntary transfer by the company. On that basis, the Companies Act, 1956 and the Companies (Court) Rules permit such disposition for beneficial winding-up, and the West Bengal Premises Tenancy Act, 1956 and the Transfer of Property Act do not bar it in these circumstances. Objections based on forfeiture or re-entry clauses do not defeat the Court's power to realise the assets, and acceptance of rent after the relevant events may amount to waiver where the facts justify it. Case-Laws Companies Law Wed, 03 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468477