https://www.taxtmi.com/caselaws?id=96815 In winding-up proceedings under Section 235 of the Indian Companies Act, 1913, the High Court of Madras stated that misfeasance relief could extend to restoration of company property retained by an officer. The provision was read broadly to cover repayment, restoration, or compensation where an officer had misapplied or retained company assets. The Court also noted that proof of a separately quantified pecuniary loss was not essential where the continued withholding of company books itself caused loss to the company. On that reasoning, the order requiring delivery of the books was upheld and the appeal was dismissed. en-us Mon, 05 Aug 1940 00:00:00 +0530 Wed, 11 Jan 2012 12:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96815 In winding-up proceedings under Section 235 of the Indian Companies Act, 1913, the High Court of Madras stated that misfeasance relief could extend to restoration of company property retained by an officer. The provision was read broadly to cover repayment, restoration, or compensation where an officer had misapplied or retained company assets. The Court also noted that proof of a separately quantified pecuniary loss was not essential where the continued withholding of company books itself caused loss to the company. On that reasoning, the order requiring delivery of the books was upheld and the appeal was dismissed. Case-Laws Companies Law Mon, 05 Aug 1940 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96815