https://www.taxtmi.com/caselaws?id=98050 A decree against a company after voluntary liquidation remained enforceable against company assets allotted to shareholders, because distribution of those assets did not extinguish liability for the company's debts. Section 243 of the Indian Companies Act, 1913 was treated as an enabling provision for restoration proceedings within the prescribed time, not as a complete bar to other lawful remedies. The appellants' suppression of the liquidation and fraudulent conduct prevented them from invoking the statutory protection. On that basis, the decree-holder was entitled to execute the decree against the allotted buses, and the objection based on section 243 failed. en-us Fri, 14 Jun 1963 00:00:00 +0530 Thu, 19 Jan 2012 10:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98050 A decree against a company after voluntary liquidation remained enforceable against company assets allotted to shareholders, because distribution of those assets did not extinguish liability for the company's debts. Section 243 of the Indian Companies Act, 1913 was treated as an enabling provision for restoration proceedings within the prescribed time, not as a complete bar to other lawful remedies. The appellants' suppression of the liquidation and fraudulent conduct prevented them from invoking the statutory protection. On that basis, the decree-holder was entitled to execute the decree against the allotted buses, and the objection based on section 243 failed. Case-Laws Companies Law Fri, 14 Jun 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98050