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Indian Laws - Highlights / Catch Notes

Home Highlights August 2022 Year 2022 This

Dishonor of Cheque - ompany in liquidation - whether the ...

Indian Laws

August 23, 2022

Dishonor of Cheque - ompany in liquidation - whether the impleadment of Official Liquidator is necessary - Undoubtedly the consent terms provided for the consequence of the winding up petition being allowed in the event of any default. But that stipulation appears to be in the nature of a dyke against the default. In such a situation, to accede to the submission on behalf of the applicants, would amount to playing into the hands of a party who succeeds in avoiding the liability under the original proceedings as well as the one incurred under the consent terms. - HC

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