2017 (8) TMI 1670

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....rporate Laws<br>HON&#39;BLE JUSTICE SANJIB BANERJEE AND HON&#39;BLE JUSTICE SIDDHARTHA CHATTOPADHYAY Appearance: Ms. Manju Agarwal, Adv., Mr. Bajrang Manot, Adv., Mr. Abrhojit Mitra, Sr. Adv., Mr. Jishnu Chowdhury, Adv., Mr. Aritra Basu, Adv, Mr. S. K. Kundu, Adv., Mr. Debasish Kundu, Sr. Adv., Mr. Subhransu Ganguly, Adv., Mr. Shiv Chandra Prasad, Adv., Mr. Debrup Bhattacharjee, Adv., Mr. P. K.....

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....ment to be proposed between a company and its creditors or a class of creditors or between a company and its members or a class of members on the application of the company, or any creditor or member of the company. However, "in the case of a company which is being wound up", Section 391(1) of the Act permits only an application "of the liquidator" to be received under such provision. In this c....

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....tings to be held of creditors of a company (in liquidation) ought to be seen with a lot more circumspection than is evident from the order impugned. In the scheme of things that existed prior to the Companies Act, 2013 and as is still applicable to the company (in liquidation), this Court is in seisin of the company (in liquidation) and its assets and properties and is answerable to all its credit....