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2012 (5) TMI 192 - DELHI HIGH COURTLiquidation of a company - Claim under Section 536(2)- transfer of flat after the order of winding up – Held that:- Transaction undertaken by company in liquidation can be validated under Section 536(2) as compulsion of circumstances, in order to save or protect the company, provided evidence is produced about such compulsion and it was further held that the assets of the company (in liquidation) cannot be disposed of at the mere pleasure of the company - The Agreement for Sale executed by Smt. Anita Jain in favour of the appellant bears the date of payment of stamp duty of 14.02.2002 whereas the said Agreement is however purported to be ante dated on 13.12.2001 when the Agreement to Sell executed by the company in liquidation in favour of Smt. Anita Jain bears the date of payment of stamp duty of 13.02.2002 - This alone shows collusion and an attempt to show the Agreement to be of a date different than it is borne out to be of - it cannot be said that transfer of subject flat, after the order of winding up and in violation of the order restraining such transfer was under compulsion or for the benefit of the company in liquidation - claim under Section 536(2) rejected.
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