2019 (5) TMI 978

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..... y prior to liquidation period, it is difficult for the auditor to detect quantum of misfeasance. Ms. Das De, learned advocate appearing on behalf of Official Liquidator relies on section 455 of Companies Act, 1956, which provides for official liquidator to file preliminary report, report thereafter and, if necessary, further report - The report filed does not satisfy or correspond to any of the pr .....

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..... n that establishment of misfeasance proceedings against the Ex-directors of the Company (In Liquidation) is doubtful and I am unable to recommend for the same in absence of basic/statutory books and records of the Company (In Liquidation) and also the grounds as stated his report. The office reports, regarding investigation against ex-directors of the company (in liquidation), a .....

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..... It is also not a further report stating opinion of the office, that a fraud has been committed, for invoking powers provided in section 478. The report has been filed. Let it be kept on record. The application be shown to have been disposed of. Re: CA No.45 of 2019 This application by letter for direction is for leave to withdraw aforesaid repor .....

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