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2015 (10) TMI 1523 - HC - Companies LawAppointment of Liquidator - Interim Restrain order for disposal of company's assets Respondent proposes to dispose of its assets in pursuance of the CDR scheme; without making any payment to Applicant and with a view to defeat the legitimate claim of Applicant Appellant sought an order of provisional liquidator; Respondent submits that no jurisdiction of court lies to either continue its order of protective relief qua the property of the company. Held That:- Respondent shall not dispose of any of its assets or create any third party rights and shall keep the Petitioner informed about the progress and status of the implementation of the C.D.R. Scheme and declaration of relief undertaking - Petitioner granted liberty to press for admission of the petition and relief in the matter as and when the notification of relief undertaking ceases to apply to the Respondent Decided in favour of Appellant.
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