Home Highlights April 2012 Year 2012 This

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1. Court ordered dissolution of company and discharged Official Liquidator as Liquidator u/s 481 of Companies Act, 1956 as Official Liquidator could not proceed further...

2. Liability of directors u/s 179 - Recovery of dues of company - Onus to prove the gross neglect or misfeasance or breach of duty on his part - No material is highlighted...

3. Direction for investigation into the affairs of the company - reference the matter of SFIO on the request of the official liquidator - It is not the case of the Official...

4. An application under Section 543 of the Companies Act, 1956 cannot be made in vague terms and it cannot be used as a power to conduct a roving enquiry in these...

5. This appeal arose u/s 61 of the Insolvency and Bankruptcy Code, 2016, filed by the Suspended Director against the Adjudicating Authority's order. The Liquidator had...

6. Disclaimer of onerous property granted to the Official Liquidator to disclaim office space - peaceful, vacant possession to be handed over to applicant from Official...

7. The NCLAT, an Appellate Tribunal, rejected an application regarding Auction Sale by a Liquidator in a Company Appeal. The Appellant, an Erstwhile Director/Shareholder of...

8. Liquidation of company - alleged malafide conduct of the ex-directors of Futura - Proceedings under IBC - The conduct attributed to the ex-directors, prima facie borne...

9. Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial...

10. Dissolution of company sought u/s 481 of Companies Act, 1956. Court opined liquidation proceedings warranted termination, company should be dissolved as Official...

11. The CESTAT ALLAHABAD held that the appeal abates u/s Rule 22 of Custom, Excise & Service Tax Appellate Tribunal Procedure Rules, 1982 due to the liquidation order by...

12. The High Court held ex-directors guilty of fraudulent concealment and misappropriation u/s 433(e) and 435 of the Companies Act, 1956. They failed to disclose sale...

13. Review petition - The tribunal dismissed the review application, stating it was not maintainable in the petitioner's personal capacity and lacked merit. It emphasized...

14. Recovery of tax dues of the company from the Director u/s 179(1) - Director is now no more (deceased) - Before passing an order u/s 179, the Assessing Officer should...

15. Recovery of the amounts from the company and its directors - Liability of directors - Section 179(1), in itself, grants the Directors the liberty to prove that the...