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M/S Shree Jagannth Steels Ltd., In ... vs Indian Bank, Chennai on 11 September, 2025 cites

Monark Enterprises vs Kishan Tulpule And Others on 30 October, 1991

"10. Before this Court, reliance was placed on the decision of the Bombay High Court in the case of Monark Enterprises v. Kishan Tulpule and Ors. 74 Company Cases 89wherein it is held that Section 531-A of the Companies Act, 1956 provides for' Savoidance of voluntary transfers' made by a Company within a period of one year during the presentation of a petition for winding up (i) if such transfer was not made inthe ordinary course of its business, or (ii) if such transfer was not made in good faith for valuable consideration. If the Court comes to the conclusion that such transfer, though made within a period of one year before presentation of the petition, was made either in the ordinary course of business or in good faith and for valuable consideration, such transfer would not be annulled. The burden of proving that the impugned transaction was not entered into in the ordinary course of business or in good faith and for valuable consideration would be on the Official Liquidator or the Creditors impugning the transaction.
Bombay High Court Cites 22 - Cited by 25 - Full Document

J.K. (Bombay) (P) Ltd vs New Kaiser-I-Hind Spg. & Wvg. Co. Ltd. & ... on 22 November, 1968

17. Additionally, in J.K. (Bombay) (P) Ltd v. New Kaiser-I- Hind Spg. &Wvg. Co. Ltd. 3, the Hon'ble Supreme Court reiterated that once a winding-up order is passed, the custody and control of the assets vest solely with the OL. Therefore, the seizure of the land to an extent of Acs.1.46 on 12.03.2007 by the OL and objected by respondent Nos.2 and 3 in COMPA Nos.735 and 736 of 2007 is held as lawful. In the said decision, the Apex Court held as under:
Supreme Court of India Cites 20 - Cited by 104 - J M Shelat - Full Document
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