The liquidator filed an application under Section 60(5) of the Code against a third party regarding transfer charges payable to Himachal Pradesh Housing & Development Authority. The transaction relates to an amalgamation that occurred in 1997. The application sought relief against a third party who was neither a creditor nor a debtor of the corporate debtor. The court considered the timing of the transaction (more than ten years prior) and the nature of the third party's relationship to the corporate debtor.

The liquidator filed an application under Section 60(5) of the Code against a third party regarding transfer charges payable to Himachal Pradesh Housing & Development Authority. The transaction relates to an amalgamation that occurred in 1997. The application sought relief against a third party who was neither a creditor nor a debtor of the corporate debtor. The court considered the timing of the transaction (more than ten years prior) and the nature of the third party's relationship to the corporate debtor.