https://www.taxtmi.com/caselaws?id=99415 An official liquidator appointed in winding up proceedings was treated as an officer of the company because, after the winding up order, the company continues to exist and the liquidator controls its affairs on its behalf. The court rejected the view that the liquidator is only an officer of the court, and held that relief under section 281 of the Indian Companies Act, 1913 was available. It further held that, where liquidation proceedings began before the Companies Act, 1956, the saving provision preserved the old law for those proceedings, so relief against the statutory penalty under section 244B(7) remained available where the default was bona fide and no personal gain was made. en-us Tue, 13 Aug 1974 00:00:00 +0530 Fri, 27 Jan 2012 12:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99415 An official liquidator appointed in winding up proceedings was treated as an officer of the company because, after the winding up order, the company continues to exist and the liquidator controls its affairs on its behalf. The court rejected the view that the liquidator is only an officer of the court, and held that relief under section 281 of the Indian Companies Act, 1913 was available. It further held that, where liquidation proceedings began before the Companies Act, 1956, the saving provision preserved the old law for those proceedings, so relief against the statutory penalty under section 244B(7) remained available where the default was bona fide and no personal gain was made. Case-Laws Companies Law Tue, 13 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99415