https://www.taxtmi.com/caselaws?id=98635 A winding-up misfeasance application under section 543 is treated as a distinct statutory remedy, not as an ordinary money suit, so dismissal of earlier recovery suits in default does not attract the bar under Order 9 Rule 9 CPC. The document also states that a managing director who withdraws company funds without valid board sanction, or takes money before remuneration has lawfully accrued, acts without authority and becomes liable to restore the amounts. The proceeding is described as focused on the officer's conduct and consequential restitution, and the application is stated to be within limitation. en-us Fri, 18 Apr 1969 00:00:00 +0530 Sat, 21 Jan 2012 13:29:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98635 A winding-up misfeasance application under section 543 is treated as a distinct statutory remedy, not as an ordinary money suit, so dismissal of earlier recovery suits in default does not attract the bar under Order 9 Rule 9 CPC. The document also states that a managing director who withdraws company funds without valid board sanction, or takes money before remuneration has lawfully accrued, acts without authority and becomes liable to restore the amounts. The proceeding is described as focused on the officer's conduct and consequential restitution, and the application is stated to be within limitation. Case-Laws Companies Law Fri, 18 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98635