High Court Sets Aside Company Judge's Order Restricting Disposition of Property in Winding Up Petition — Observations Held Unwarranted and Prejudicial to Third Party Rights Under Companies Act. The court held that at the acceptance stage of a winding up petition, drastic observations regarding disposition of property and transfer of shares should not be made without affording the petitioner an opportunity of hearing, and that such observations affect the rights of third parties under the Companies Act, 1956.
25 Sep 2014The appeal arose from an order of the learned Company Judge placing a winding up petition for acceptance at a future date, but with a concluding parag...
