https://www.taxtmi.com/caselaws?id=97823 In winding-up proceedings, discretionary misfeasance-style relief under sections 185 and 195 of the Indian Companies Act, 1913 was not normally to be granted at the instance of one director against another where the applicant had himself participated in the impugned company transactions. The Madras HC noted that the shareholder-director sought directions concerning alleged misfeasance in resolutions and sale transactions in which he had been involved, and treated personal hostility as a relevant factor against granting relief. It indicated that any investigation into loss to the company should properly be pursued by the official liquidator, with further audit only if funds became available. en-us Tue, 26 Apr 1960 00:00:00 +0530 Wed, 18 Jan 2012 12:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97823 In winding-up proceedings, discretionary misfeasance-style relief under sections 185 and 195 of the Indian Companies Act, 1913 was not normally to be granted at the instance of one director against another where the applicant had himself participated in the impugned company transactions. The Madras HC noted that the shareholder-director sought directions concerning alleged misfeasance in resolutions and sale transactions in which he had been involved, and treated personal hostility as a relevant factor against granting relief. It indicated that any investigation into loss to the company should properly be pursued by the official liquidator, with further audit only if funds became available. Case-Laws Companies Law Tue, 26 Apr 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97823