https://www.taxtmi.com/caselaws?id=97338 Section 235 is characterised as a procedural, summary remedy enabling a liquidator to investigate and recover moneys in the hands of promoters, directors or managers where affidavits and annexed accounts show sums due and no adequate explanation or inspection was provided; the court need not treat the affidavit as conclusively proving misapplication but may examine conduct, frame issues and record evidence in its discretion. Objections based on convenience of counterclaim or set-off do not bar resort to the summary mode. The application is maintainable and will proceed with affidavits treated as pleadings, discovery, inspection and evidence listed. en-us Wed, 05 Jan 1955 00:00:00 +0530 Mon, 16 Jan 2012 13:10:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97338 Section 235 is characterised as a procedural, summary remedy enabling a liquidator to investigate and recover moneys in the hands of promoters, directors or managers where affidavits and annexed accounts show sums due and no adequate explanation or inspection was provided; the court need not treat the affidavit as conclusively proving misapplication but may examine conduct, frame issues and record evidence in its discretion. Objections based on convenience of counterclaim or set-off do not bar resort to the summary mode. The application is maintainable and will proceed with affidavits treated as pleadings, discovery, inspection and evidence listed. Case-Laws Companies Law Wed, 05 Jan 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97338