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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
MANISH PITALE, J
Jaikishan Narang, HUF through its Karta Mr. Kiran Deepak Nagpal – Appellant
Versus
Surendra Engineering Corporation Ltd. – Respondent
JUDGMENT :
1. The applicants being landlords of subject premises are seeking direction from this Court to the official liquidator to handover vacant and peaceful possession of the said premises, which were taken on monthly tenancy basis by the company in liquidation. Since there are two premises, the applicants have referred to two tenancy agreements. It is the case of the applicants that the company in liquidation does not require the premises and that the same have been lying unused, which mandates a direction to the official liquidator to handover possession of the premises to the applicants.
2. Before adverting to the rival submissions in the present application, the facts in brief leading up to filing of the present application are required to be appreciated.
3. In the year 2015, Company Petition No. 369 of 2015 was filed by M/s. Alliance Logistics against Surendra Engineering Corporation Ltd. (the company in liquidation). By order dated 5th May 2016, the company petition was admitted and it was directed to be advertised. On 16th February 2018, this Court ordered winding up of the company and appointed official liquidator of this court as the liquidator of the company with direct
Tenancy rights are not assets of a company in liquidation, and the official liquidator must substantiate the need for premises to retain possession under Section 446 of the Companies Act.
A statutory body retains no right to resume possession of leased land post-winding up without permission from the Company Court, despite lease cancellation being legally permissible.
Directors of a company can initiate legal proceedings without a formal Board resolution if authorized by the Memorandum and Articles of Association.
The central legal point established in the judgment is the application of Section 481 of the Companies Act, 1956 for the dissolution of a company in liquidation.
The main legal point established in the judgment is that under Section 481 of the Companies Act, 1956, a company can be dissolved when the affairs of the company have been completely wound up or when....
Claims for costs incurred during liquidation are distinct from debts owed to creditors under the Companies Act.
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