Home Highlights April 2013 Year 2013 This

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1. Liquidation proceedings - Scope of the term "Party" - the proceedings for winding up of a company are actually proceedings in rem to which the entire body of creditors...

2. Application of official liquidator alleging misfeasance on the part, of the erstwhile Directors of the Company-in-liquidation - HC

3. Seeking winding up of respondent company - Failure to pay outstanding dues - section 434 of the Companies Act, 1956 - The court noted the substantial unpaid amount...

4. Complaint u/s 276C (2) r.w.s. 278B - Allegation of willful evasion of tax - Liability of Directors / ex-directors of company u/s 179 - Company is under liquidation...

5. Liability of directors of private company - Section 179 - garnishee notice - it is clear that the department has not taken any steps to recover the dues from the...

6. Seeking winding up of the respondent company - failure to pay debt in the normal and ordinary course of its business - The High Court notes the respondent company's...

7. Winding up proceedings - conduct of Official Liquidator (OL) - The OL really should have no interest in seeking to retain its control over the company under liquidation...

8. Handover of possession of the properties belonging to the Company (In Liquidation) - Tenants - The orders/decrees passed by the Courts in favour of tenants declaring...

9. Direction for investigation into the affairs of the company - reference the matter of SFIO on the request of the official liquidator - It is not the case of the Official...

10. Validity of Ex-parte award after appointing official liquidator for winding up the company - official liquidator was still in seisin of the affairs of the judgment...

11. When the Official Liquidator cannot proceed with the winding up of the Company for want of funds or for any other reason, the Court can make an order dissolving the Company - HC

12. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

13. Liquidation of Corporate Debtor - once CIRP is initiated under IBC, the management vests in IRP/RP and if Liquidation Order gets passed the Powers and Duties of the...

14. Eligibility of wages to dissenting workmen - company under liquidation - Several claims were lodged by the dissenting workmen before the official liquidator for...

15. Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...