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2012 (2) TMI 291 - DELHI HIGH COURTCompanies Act 1956 - Plea filed under Rule 9 of the Companies (Court) Rules, 1959 seeking a direction to the Official Liquidator to release the land from attachment - Trust claims to have entered into an agreement to sell with company – Held that:- In present case, agreement to sell was executed with the Company under liquidation after the filing of the winding up petition against it and even the sale consideration is paid. In view of the provisions of Sections 531 and 531-A of the Companies Act, the transaction between the applicant Trust and the Company under liquidation has to be declared invalid and not enforceable. Ignorance of Trust of filing of the winding up petition will not validate the transaction in question – Decided against the applicant.
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