Jatin Bhupendra Shah vs Praj Industries Limited And Ors on 1 February, 2023
26) In light of the aforesaid legal position, a detail reference
to the Judgments of the Gujarat High Court in Company
Application No. 77 of 2014 and connected applications in the
matter of Authorised Officer and Assistant General Manager Vs.
Official Liquidator of Apoorva Laminates Private Ltd., and Star
Chemicals (Bombay) Ltd Vs. Vitta Mazda Ltd. And Another 4, the
judgments of Madras High Court in V.G.P. Finances Limited Vs.
Neptune Inflatables Limited5, and Panjab and Haryana High
Court in the case of Chetan K. Singh Vs. City Bank N.A. and
Others6 , sought to be relied upon by Mr. Vaghela is not
warranted. It would be suffice to note that those cases revolved
around the question of validation of the disposal of the assets of
the Company under Section 536 (2) of the Companies Act, 1956.