https://www.taxtmi.com/caselaws?id=106665 The court dismissed the workers' claims over properties sold in execution proceedings, ruling that there was no evidence of financial interconnection between the company and partnership firms. The court did not address the jurisdictional issue raised by the bank as the applications were dismissed on merits. The doctrine of lifting the corporate veil was found inapplicable due to lack of evidence of fraud or improper conduct. Admissions by directors in affidavits were deemed insufficient to convert partnership firm properties into those of the company. Orders under the Payment of Wages Act did not bind partnership firm creditors. The court vacated the interim stay, allowing execution proceedings to resume, and directed the Official Liquidator to expedite asset sales for creditor distribution. en-us Mon, 25 Feb 2002 00:00:00 +0530 Thu, 15 Mar 2012 11:51:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106665 The court dismissed the workers' claims over properties sold in execution proceedings, ruling that there was no evidence of financial interconnection between the company and partnership firms. The court did not address the jurisdictional issue raised by the bank as the applications were dismissed on merits. The doctrine of lifting the corporate veil was found inapplicable due to lack of evidence of fraud or improper conduct. Admissions by directors in affidavits were deemed insufficient to convert partnership firm properties into those of the company. Orders under the Payment of Wages Act did not bind partnership firm creditors. The court vacated the interim stay, allowing execution proceedings to resume, and directed the Official Liquidator to expedite asset sales for creditor distribution. Case-Laws Companies Law Mon, 25 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106665