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IN THE HIGH COURT OF JUDICATURE AT MADRAS
Honourable Mr Justice SENTHILKUMAR RAMAMOORTHY
S.Jayanthi – Appellant
Versus
Official Liquidator, High Court Madras. As Provisional Liquidator of Maxworth Orchards (India) Limited – Respondent
ORDER :
SENTHILKUMAR RAMAMOORTHY, J.
Background - The Company in provisional liquidation [the Company] had obtained powers of attorney in favour of its ex-employees, A.Venkatesan and R.Natarajan, in relation to the acquisition of lands in the Minnathur Village. According to the Company, these powers of attorney were executed in favour of its ex-employees upon receipt of the entire sale consideration by the respective land owners. After the Company ran into financial trouble, it is stated that fraudulent transactions were undertaken both by the original land owners and by the ex-employees/agents of the Company.
2. Upon obtaining details in respect thereof from the caretaker, the Company filed Comp.A.Nos.594 to 596 of 2009 to set aside the sale deeds mentioned in the Judge's summons of Comp.A.No.594 of 2009, declare that respondents 1-22 therein do not have right, title or interest in the properties described in the schedule and restrain respondent 1 to 22 therein from interfering with the Company's possession; to restrain respondents 23 and 24 from registering conveyances or issuing pattas, respectively; and for a direction to respondent 25 to provide protection to the caretaker, recei
The court upheld that powers of attorney executed post-winding-up are void, emphasizing the need for registered sale deeds to establish valid ownership, reaffirming precedence in the corporate liquid....
Dispositions made after winding up under Section 536(2) of the Companies Act, 1956, are void unless validated by the Court, reaffirming the authority of the Official Liquidator over disputed properti....
Sale deeds executed post-winding up are void under Section 536(2) of the Companies Act, 1956, and powers of attorney executed for fraudulent purposes do not confer rights over property.
Transactions involving the sale of company assets after winding up are void unless validated by the court, emphasizing the necessity of registered sale deeds for property transfers.
Sale deeds executed after a company's winding up are void unless validated by the court, while powers of attorney coupled with interest remain valid despite the principal's death.
Sale deeds executed after a company's winding up are void unless validated by the court, while powers of attorney coupled with interest remain valid despite the principal's death.
Conveyances executed post-winding up and in violation of court orders are void; title cannot be conveyed under a power of attorney.
Compliance with statutory requirements for death certificates and the impact of delay in filing applications on the admissibility of claims.
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