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BHARGAV D. KARIA
Pankajbhai Revabhai Patel – Appellant
Versus
OL of Shukan Corporation Private Limited – Respondent
Headnote: Read headnote
ORDER :
1. Heard learned advocate Mr. Dhruvik K. Patel for the applicant and learned advocate Ms. P.J. Davawala for the respondent.
2. By this application, the applicant has prayed for the following reliefs :
The sale of property during winding up proceedings is void if executed without court sanction and with fraudulent intent to evade creditors' claims.
Sale of property by a company before winding up is void against the liquidator if it lacks good faith and adequate consideration, even if transactions are valid inter partes.
Section 536(2) of the Companies Act, 1956 allows the court to validate bona fide transactions made after the commencement of winding up, emphasizing the importance of protecting legitimate interests ....
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