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2018 (7) TMI 2073 - BOMBAY HIGH COURT
Grant of leave - execution of Consent decree - winding up proceedings - revival of sick company - amounts received from out of the sale proceeds of one of the Company’s properties - HELD THAT:- The leave sought by applicant under Section 446 of theCompanies Act 1956 to enforce the Consent Decree dated 9th July 2009 is refused.
The Consent Decree dated 9th July 2009 is declared illegal and void as a fraudulent preference - applicant is directed to refund with interest at 12% p.a. theamount of ₹ 10,17,03,493/ withdrawn by it from the sale proceeds of the Ambattur property - Application disposed off.