TMI Blog2018 (9) TMI 1084X X X X Extracts X X X X X X X X Extracts X X X X ..... fter filing of the winding up application is established. The balance of convenience and inconvenience is in favour of the creditors of the said company. The company is therefore restrained by an order of injunction from dealing with, disposing of, alienating, encumbering or creating any third party interest in respect of its assets until further orders. Considering the need to preserve the assets of the company for the ultimate benefit of the creditors the Official Liquidator is appointed as the Provisional Liquidator who will make an inventory and prepare a list to that effect and thereafter be in symbolic possession of the assets of the company. The inventory list to be prepared by the Provisional Liquidator be submitted on the next d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the company as to its present financial position whether it has to be wound up or be kept in existence. By an order dated 10th August, 2018 passed in C.A. No. 224 of 2018, a direction was given upon the company to provide the details of its properties and its interest in all other projects. In pages 941 to 946 of the company s affidavit in CA 224 of 2018, the company has given a list of its assets prior to 21st day of June, 2017. In pages 1019 to 1024, the company has provided another list of its assets at the time of affirming its affidavit on 22nd August, 2018. On a comparison of the two lists as aforesaid i. e. prior to 21st June, 2017 and that as on 22nd August, 2018, it prima facie appears that there has been change in position. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sferred its assets after filing of the winding up application is established. The balance of convenience and inconvenience is in favour of the creditors of the said company. The company is therefore restrained by an order of injunction from dealing with, disposing of, alienating, encumbering or creating any third party interest in respect of its assets until further orders. Mr. Reetobroto Mitra on behalf of Reliance Commercial Finance Limited and Reliance Home Finance Limited also prays for appointment of as a Provisional Liquidator over the assets of the said company. Considering the need to preserve the assets of the company for the ultimate benefit of the creditors the Official Liquidator is appointed as the Provisional Liquidator who ..... X X X X Extracts X X X X X X X X Extracts X X X X
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