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[Cites 0, Cited by 0] [Section 535(1)] [Section 535] [Entire Act]

Union of India - Subsection

Section 535(1)(d) in The Companies Act, 1956

(d)unprofitable contracts, the Liquidator of the company, notwithstanding that he has endeavoured to sell or has taken possession of the property, or exercised any act of ownership in relation thereto, or done anything in pursuance of the contract, may, with the leave of the [Tribunal] and subject to the provisions of this section, by writing signed by him, at any time within twelve months after the commencement of the winding up or such extended period as may be allowed by the [Tribunal] [ Substituted by Act 11 of 2003, Section 95, for " Court" .], disclaim the property: