Saturday 15 February 2014

HC dismissed damages claim against delinquent director as it was based on past financials of co.

CL : Where liquidator filed application under section 543 and claimed certain amount to be made good by directors of company in liquidation, in view of fact that claim did not relate to relevant period and was completely based on a balance sheet, which was two years earlier to date of winding up order and could not reflect true state of affairs as on date of winding up, order same was on surmise and application lacks merit


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