terms of Section 536(2) . The question as to the avoidance of transfer under Sub-section (2) of Section 536 of the Companies Act came ... with. Section 227 of the English Companies Act, 1948 is almost the same as Section 536(2) of the Indian Companies Act. Dispositions which could
unless the Tribunal otherwise orders, be void."
15. Sub-section (2) of Section 536 contemplates that any transfer of shares in the company shall ... proceedings. Section 536 relates to the avoidance of transfer, etc., after the commencement of the winding up proceedings. The object of Section 536 seems
unless the Tribunal] otherwise orders, be void."
4. Sub-section (2) of Section 536 , however, empowers the winding up court to order otherwise which ... court.
5. Obviously, the purpose behind sub-section (2) of Section 536 is to prevent improper disposition or dissipation of property so as to affect
void, it is within the power of the court,
under Sec.536(2) to say that the transaction is not void ... that the object of subsection (2) of section 536 of the Act is to
prevent improper disposition or dissipation of property so as to affect
govern the Courts' jurisdiction under Section 536(2) of the Act. It is consistently held that, Section 536 ... exercise of powers conferred by sub- section 2 of Section 536 of the Act. Accordingly, disposition of the concerned parcels of land in favour
steps and comply with all the formalities such as referred to in sections 448 to 463 of the Act.
10. Suffice it to observe that ... creditor and of a contributory. Further, by virtue of Section 536(2) , any disposition of the property (including actionable claims) of the Company
extricate him from the tentacles of the offence contemplated in the section. Perhaps some kind of explanations would be sufficient to alleviate the rigour ... impact of the legislative directions in Section 536(2) of the Companies Act, namely, any disposition of property of the company made after the commencement
liquidation.
15. Section 536(2) of the Act, which is relevant for the present petition, reads as under:
Section 536(2) Avoidance of transfers ... Hence, the intention of the legislature under Section 536(2) appears to see that no transaction after the commencement of the proceedings of winding
learned Senior Counsel, would submit that
having regard to sub-section (2) of Section 536 of the Companies Act, the
High Court has the jurisdiction ... First Respondent placed strong reliance, construction of sub-section (2)
of Section 536 of the Companies Act came up for consideration and it was
held
Arunachalam v. A.R. Krishnamurthy and Ors. (supra). Section 536 Sub-section (2) of the Companies Act, 1956 reads as:
(2) In the case ... winding up by or subject to the supervision of the Court, any disposition of the property (including actionable claims) of the company, and any transfer
