Krishnamurthy & Co. (K Law) successfully represented M. M. Styles Pvt. Ltd. (“MM Styles”) before the Hon’ble Bombay High Court in proceedings arising out of an Official Liquidator’s Report filed in the course of winding up of Milestone Interactive Pvt. Ltd. (“Company”).
The Official Liquidator had sought to declare certain transactions entered into by MM Styles as void on the ground that they were executed after the presentation of the winding-up petition.
On behalf of MM Styles, K Law filed an Interim Application under Section 536(2) of the Companies Act, 1956, seeking validation of the said transaction on the basis that it was bona fide, for valuable consideration, and in the interest of the Company and its creditors.
By an Order dated May 4, 2026, the Hon’ble Court was pleased to validate the transaction in favour of our client and dismiss the Official Liquidator’s Report, thereby rejecting the challenge to the transaction.
The Court reaffirmed the settled position that transactions entered into after the presentation of a winding-up petition are not ipso facto void and may be validated where they are bona fide and beneficial to the company and its stakeholders.
The matter was argued by Partner Mustafa Kachwala, assisted by Principal Associate Shantam S. Mandhyan and Associate Sakshi Sri.
——————————————–
Have a case update, article, or deal to share? Courtroom Today welcomes contributions from lawyers, law firms, and legal professionals. Write to contact@courtroomtoday.com
