The High Court held ex-directors guilty of fraudulent ...

Ex-Directors found guilty of fraud & misappropriation in company's winding up. Ordered to pay Rs. 3,60,000 + interest.

Case Laws Companies Law

June 18, 2024

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 consideration in company accounts. Third-party rights existed before winding-up. No collusion found. Ex-directors ordered to pay Rs. 3,60,000 with 12% penal interest to Official Liquidator within 30 days. Application disposed of.

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The High Court held ex-directors guilty of fraudulent ...

Ex-Directors found guilty of fraud & misappropriation in company's winding up. Ordered to pay Rs. 3,60,000 + interest.

Case Laws Companies Law

June 18, 2024

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