Property of a company cannot be sold under SFC Act if winding up petition against such company is pending

HIGH COURT OF DELHI New Cawnpore Flour Mills Ltd. versus Bakemans Industries (P.) Ltd. CO.PETITION NO. 204 of 2003 CO. APP. NO. 1156 OF 2012 CA NO. 1212 OF 2010 JANUARY  8, 2013 ORDER 1. The background to these applications is that, in 2003, 16 separate winding up petitions were filed by the creditors of Bakemans Industries Pvt. Ltd. (‘BIPL’) under Section 433(e) read with Section 433(f) and Sections 434 and 439 of the Companies Act, 1956 (‘Companies Act’). By an order dated 6th April 2004, the petition filed by New Cawnpore Flour Mills Ltd. (‘N...