Company Property Lease Cancelled as Transaction Was Sham and Not at Arm’s Length

Official Liquidator Vs Kirloskar Institute (Karnataka High Court) The Karnataka High Court considered an appeal filed by the Official Liquidator of Mysore Kirloskar Ltd. (the company in liquidation) challenging the order dated 21.07.2015 passed by the Company Court in Company Application No.826/2011 in Company Petition No.166/2001. The Company Court had dismissed the application filed by the Official Liquidator seeking to declare a lease agreement dated 22.01.2000 as void against the Official Liquidator. The dismissal was on the ground that the application was barred by limitation. Background ...