Percept Advertising Ltd. vs M. Ravindran, Administrator, Anubhav ...

The Supreme Court dismissed the special leave petition, affirming the High Court's order which confirmed the directions of the learned Single Judge regarding a lease agreement. The petitioner contended that the Company Court acted without an application from the official liquidator as required under Section 531-A of the Companies Act, asserting that the conveyance of property was void. However, the Court held that the lease was granted to preserve the property and that the interests of the petitioner were safeguarded, allowing them to establish their title in separate proceedings.