Supreme Court · 2003 INSC 346 · Decided 30 July 2003
Sankar Ram and CO. v. Kasi Naicker and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 346 · [2003] SUPP. 1 S.C.R. 930
- Case number
- CIVIL APPEAL No. 176/1997
- Decided
- 30 July 2003
- Bench
- SHIVARAJ V. PATIL, D.M. DHARMADHIKARI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Provincial Insolvency Act, 1920: C Ss. 28, 55 and its Proviso: Insolvency Petition by the debtor/transferor--Bonafide transferee for valuable consideration-Protection to-Held: When transfer of shares to the transferee was for valuable consideration without any notice as to the presentation of the entitled to protection/claim. Section 218/Proviso to Section 55--Protection to creditor vis-a-vis-­ Protection to bona fide transferee-Interpretation of-Held, An order of adjudication in an Insolvency Petition relates back to the date of its presentation-No word or Provision of Law
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