https://www.taxtmi.com/caselaws?id=105070 The court dismissed the application for the return of machinery and funds invested in a company under liquidation. It found the applicant's claim as a shareholder or managing director untenable, considering the company's winding-up order by the BIFR. The court treated the applicant's investments as those of an unsecured creditor, advising recourse to the BIFR for relief. No jurisdiction was found for the release of seized property, directing the applicant to seek relief from the BIFR. The court did not award costs and left the parties' rights undecided. en-us Wed, 22 Dec 1999 00:00:00 +0530 Fri, 02 Mar 2012 13:22:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105070 The court dismissed the application for the return of machinery and funds invested in a company under liquidation. It found the applicant's claim as a shareholder or managing director untenable, considering the company's winding-up order by the BIFR. The court treated the applicant's investments as those of an unsecured creditor, advising recourse to the BIFR for relief. No jurisdiction was found for the release of seized property, directing the applicant to seek relief from the BIFR. The court did not award costs and left the parties' rights undecided. Case-Laws Companies Law Wed, 22 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105070