Company misfeasance summons seeks declaration, inquiry and compelled contribution with interest and payment of costs by respondents Summons under section 340(1) of the Companies Act, 2013 issued by a liquidator or by a creditor/contributory seeks a declaration that specified respondents misapplied or retained company property or committed misfeasance; an inquiry and accounts to ascertain sums payable by way of compensation; an order for respondents to contribute those sums jointly and severally to the company's assets with interest from the dates of wrongful payment; and an order for costs and other appropriate relief.
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.
Company misfeasance summons seeks declaration, inquiry and compelled contribution with interest and payment of costs by respondents
Summons under section 340(1) of the Companies Act, 2013 issued by a liquidator or by a creditor/contributory seeks a declaration that specified respondents misapplied or retained company property or committed misfeasance; an inquiry and accounts to ascertain sums payable by way of compensation; an order for respondents to contribute those sums jointly and severally to the company's assets with interest from the dates of wrongful payment; and an order for costs and other appropriate relief.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
