1996 (4) TMI 391

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....sh, Kalyan Kumar Ghosh and Rajni Kant Jha for the Respondent. JUDGMENT This appeal under section 483 of the Companies Act, 1956 (hereinafter referred to as "the Act") (wrongly styled as L.P.A.), is against the order and judgment dated December 11, 1986, of the learned single judge, whereby he dismissed the application of the appellant filed under section 446 of the Companies Act, 1956. Th....

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....on the company side for continuation of the execution proceeding in order to take possession of the property, which he has purchased in execution of the decree. This application was filed under section 446 of the Companies Act some time in 1986. This was dismissed and against this order the present appeal has been preferred. Under sub-section (2) of section 441 of the Act, proceedings for windi....

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....to have been validly taken. (2) In any other case, the winding up of a company by the court shall be deemed to commence at the time of the presentation of the petition for the winding up." If, we look at this section at this stage, the contention of Mr. Sharma may be correct. Mr. Ghosh, learned counsel appearing on behalf of the respondents drew our attention towards section 537 of the Act, ....

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....t to supervision of court, any sale held without leave of the court with respect to any property after commencement of the winding up of the company shall be void. In the present case before us, winding up of the company commenced, as noted above, on September 30, 1977. The sale has been held without leave of the court after the commencement of the winding up. Thus, section 537 of the Act squarely....