https://www.taxtmi.com/caselaws?id=97974 The court appointed the official liquidator as a provisional liquidator to take custody of the company's assets and properties due to concerns about the company's financial stability, including mismanagement allegations and inadequate cash reserves. Despite the company's assertions of possessing assets and plans to restart business, the court found the appointment necessary under section 450 of the Companies Act. The court also directed further evidence gathering to determine if the company is liable to be wound up under sections 433(c) and (f) of the Companies Act. Both parties were instructed to submit documents and witness lists for the upcoming hearing. en-us Fri, 14 Sep 1962 00:00:00 +0530 Wed, 18 Jan 2012 17:06:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97974 The court appointed the official liquidator as a provisional liquidator to take custody of the company's assets and properties due to concerns about the company's financial stability, including mismanagement allegations and inadequate cash reserves. Despite the company's assertions of possessing assets and plans to restart business, the court found the appointment necessary under section 450 of the Companies Act. The court also directed further evidence gathering to determine if the company is liable to be wound up under sections 433(c) and (f) of the Companies Act. Both parties were instructed to submit documents and witness lists for the upcoming hearing. Case-Laws Companies Law Fri, 14 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97974