Court Rejects Share Transfers Made Before Liquidation Due to Legal Prohibitions, No Company Benefit Found.

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....Transfer of shares before liquidation - company in liquidation was ordered to be wound up - The validation of which is sought, have been entered into being fully cognizant of the prohibition in law. No element of benefit to the company in liquidation is manifest, even remotely. In the circumstances, the Court cannot give its imprimatur to such transactions. - HC....