DMAI vs

The Supreme Court held that the Company Judge exceeded his authority by allowing the Liquidator to enter into a caretaker's agreement under Section 457(1)(b) of the Companies Act, 1956, as this was not necessary for the beneficial winding up of the Company. The Court clarified that the Liquidator's powers do not extend to leasing or licensing premises, which is not part of the Company's business. Consequently, the Court directed the Liquidator to surrender possession of the premises to the appellants, the landlords.