Bombay High Court Validates Pledge and Transfer of Shares by Company in Liquidation Under Section 536(2) of Companies Act, 1956 — Transaction Held to Be for Benefit of Company and Creditors. Post-petition pledge of shares as security for raw material supply and subsequent transfer validated as bona fide and in ordinary course of business.
22 Jul 2015The judgment concerns an application filed by Garware Marine Industries Limited (the Applicant) seeking validation under Section 536(2) of the Compani...
