M/S GLOBE FINANCIERS (P) LTD. IN LIQUIDATION Vs. H.P. SHARMA

JUDGEMENT

(1.) Messrs Globe Financiers (P) Ltd. has been ordered to be wound by the Court. The Official Liquidator claiming that the company was a tenant in possession of part of building No. 4/9, Asaf the company. A question arose as to whether or not a company in liquidation could in view of the provisions of Delhi Rent Control Act, 1958 sell or otherwise transfer its tenancy rights. Since this question has been arising inn a number of cases the matter was referred for decision to a larger Bench and that is how it has come before us for disposal. For answering this question a few provisions of the Delhi Rent Control Act, 1958 (hereinafter referred to as the Rent Act) must be noticed. Sub-section 1 to 3 of section 5 read.