M/S Shorewala Investment And Properties Ltd. And ORS v. Girish Kumar Jain And Others
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10.
The plea is being raised on the basis of Section 46 of the 1956 Act. Judgment passed by Telangana High Court in the case of M/s Narne Estates Pvt. Ltd. (supra) deals with the suit of the year 2009. 1956 Act stands repealed by the Companies Act of 2013. Section 465 of the 2013 Act specifically provides that the Companies Act, 1956 shall stand repealed subject to certain savings. No provision contained in the saving clause saves import of Section 46 of the 1956 Act. There is no corresponding provision in the 2013 Act to Section 46 of the 1956 Act. In the present suit, the defendant has propounded agreement to sell dated 7th of June, 2019 which would not be governed by the
provisions of 1956 Act but shall be governed by the provisions of 2013 Act which came into operation on 3rd of January, 2018. Thus, reliance upon Section 46 of the 1956 Act is misplaced. ' , -
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