https://www.taxtmi.com/caselaws?id=96729 The plaintiff's appeals were allowed, and the suit was dismissed with costs throughout. The court held that directors of an insolvent company should not secure their own debts preferentially. Directors must act in the best interest of the company and its creditors, ensuring equitable treatment for all creditors. The judgment emphasized that directors should not prioritize their debts over other creditors, reinforcing the principle of fair treatment in insolvency proceedings. en-us Thu, 03 Sep 1936 00:00:00 +0530 Tue, 10 Jan 2012 16:20:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96729 The plaintiff's appeals were allowed, and the suit was dismissed with costs throughout. The court held that directors of an insolvent company should not secure their own debts preferentially. Directors must act in the best interest of the company and its creditors, ensuring equitable treatment for all creditors. The judgment emphasized that directors should not prioritize their debts over other creditors, reinforcing the principle of fair treatment in insolvency proceedings. Case-Laws Companies Law Thu, 03 Sep 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96729