https://www.taxtmi.com/caselaws?id=103324 The court interpreted section 587 of the Companies Act, 1956, clarifying that individual liabilities persist during winding up. It allowed execution proceedings to continue, considering special circumstances like the respondent's investment. The court emphasized the company court's authority in fraud cases, citing Vasantrao v. Shyamrao. The civil revision petition was disposed with directions for the respondent to seek permission from the company court for execution proceedings, stressing the importance of such considerations and the court's power in permitting legal actions during winding up, especially in fraud cases. en-us Wed, 03 Jul 1996 00:00:00 +0530 Wed, 22 Feb 2012 13:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103324 The court interpreted section 587 of the Companies Act, 1956, clarifying that individual liabilities persist during winding up. It allowed execution proceedings to continue, considering special circumstances like the respondent's investment. The court emphasized the company court's authority in fraud cases, citing Vasantrao v. Shyamrao. The civil revision petition was disposed with directions for the respondent to seek permission from the company court for execution proceedings, stressing the importance of such considerations and the court's power in permitting legal actions during winding up, especially in fraud cases. Case-Laws Companies Law Wed, 03 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103324