https://www.taxtmi.com/caselaws?id=97939 The court allowed the amendment to include section 543 in the petition and provided an opportunity for further evidence. The compromise and sale of the machinery were not in accordance with law and were subject to the bank's charge. Om Parkash Sharma was found guilty of contempt and misfeasance, while the directors were found guilty of contempt but were fined leniently due to their subsequent conduct. The petitioner's relief was partially granted with orders for the refund of misappropriated funds by Om Parkash Sharma. en-us Fri, 15 Dec 1961 00:00:00 +0530 Wed, 18 Jan 2012 16:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97939 The court allowed the amendment to include section 543 in the petition and provided an opportunity for further evidence. The compromise and sale of the machinery were not in accordance with law and were subject to the bank's charge. Om Parkash Sharma was found guilty of contempt and misfeasance, while the directors were found guilty of contempt but were fined leniently due to their subsequent conduct. The petitioner's relief was partially granted with orders for the refund of misappropriated funds by Om Parkash Sharma. Case-Laws Companies Law Fri, 15 Dec 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97939