https://www.taxtmi.com/caselaws?id=98921 The court allowed the substitution of the legal representatives of the deceased director in the misfeasance proceedings under Section 543 of the Companies Act, 1956. It was held that misfeasance actions survive the death of the director, with a limitation period of five years from specified events. The court clarified that misfeasance involves breaches of fiduciary duty leading to actual company losses, and certain Civil Procedure Code provisions apply to such proceedings. The official liquidator's application for reliefs was granted, with costs to be covered by the company's assets in liquidation. en-us Fri, 11 Sep 1970 00:00:00 +0530 Tue, 24 Jan 2012 16:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98921 The court allowed the substitution of the legal representatives of the deceased director in the misfeasance proceedings under Section 543 of the Companies Act, 1956. It was held that misfeasance actions survive the death of the director, with a limitation period of five years from specified events. The court clarified that misfeasance involves breaches of fiduciary duty leading to actual company losses, and certain Civil Procedure Code provisions apply to such proceedings. The official liquidator's application for reliefs was granted, with costs to be covered by the company's assets in liquidation. Case-Laws Companies Law Fri, 11 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98921