https://www.taxtmi.com/caselaws?id=103479 Misfeasance proceedings arising from decades-old corporate transactions may be declined where delay, deaths of proposed respondents, and non-production of relied-upon records make effective proof and defence impracticable. The official liquidator's repeated failure to provide timely inspection, delayed service, and lack of prompt action after learning of respondents' deaths supported refusal to restore the summons. The limitation context under the Companies Act, 1956 did not overcome the resulting prejudice. Full payment of creditors and distribution to shareholders further formed part of the surrounding circumstances, and the dismissal of the misfeasance summons remained undisturbed. en-us Thu, 05 Aug 1993 00:00:00 +0530 Thu, 23 Feb 2012 11:06:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103479 Misfeasance proceedings arising from decades-old corporate transactions may be declined where delay, deaths of proposed respondents, and non-production of relied-upon records make effective proof and defence impracticable. The official liquidator's repeated failure to provide timely inspection, delayed service, and lack of prompt action after learning of respondents' deaths supported refusal to restore the summons. The limitation context under the Companies Act, 1956 did not overcome the resulting prejudice. Full payment of creditors and distribution to shareholders further formed part of the surrounding circumstances, and the dismissal of the misfeasance summons remained undisturbed. Case-Laws Companies Law Thu, 05 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103479