Fund recovery: Tribunal-directed reclaiming from company after revival or from asset sale proceeds once liabilities are paid. Recovery of funds applied by the Tribunal must be effected from the company after its revival or rehabilitation, or from sale proceeds of its assets after discharging statutory liabilities and payment of dues to creditors, and such recovery shall be made in the manner directed by the Tribunal.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fund recovery: Tribunal-directed reclaiming from company after revival or from asset sale proceeds once liabilities are paid.
Recovery of funds applied by the Tribunal must be effected from the company after its revival or rehabilitation, or from sale proceeds of its assets after discharging statutory liabilities and payment of dues to creditors, and such recovery shall be made in the manner directed by the Tribunal.
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