Transaction of sale of assets of co. carried out only to whisk away assets by co. wasn't allowed to be registered: HC

COMPANY LAW : Where applicant purchased land from companies of JVG Group which at that time were likely to go under liquidation through ex-director of said companies and from investigation it was found that said transaction was not bona fide and was carried out only to whisk away valuable assets of JVG Group of companies, applicant could not be granted permission to complete process of registration/execution of sale deeds of land

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