https://www.taxtmi.com/caselaws?id=96569 The Companies Act provision on fraudulent preference was treated as defining what amounts to a fraudulent preference, not as creating a summary procedure for recovery of money paid to a creditor. The Court held that the Act's summary machinery was confined to the persons expressly covered by the provision invoked, including contributories and certain officers or agents, and did not extend to a creditor who had received payment alleged to be a fraudulent preference. As no statutory summary remedy was available on those facts, the application of that kind was not maintainable and was dismissed. en-us Tue, 06 Oct 1931 00:00:00 +0530 Fri, 16 Mar 2012 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96569 The Companies Act provision on fraudulent preference was treated as defining what amounts to a fraudulent preference, not as creating a summary procedure for recovery of money paid to a creditor. The Court held that the Act's summary machinery was confined to the persons expressly covered by the provision invoked, including contributories and certain officers or agents, and did not extend to a creditor who had received payment alleged to be a fraudulent preference. As no statutory summary remedy was available on those facts, the application of that kind was not maintainable and was dismissed. Case-Laws Companies Law Tue, 06 Oct 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96569