https://www.taxtmi.com/caselaws?id=108508 The court found the Warrant of Attachment and Garnishee Notice invalid, setting them aside. It held that due to the respondents being declared defaulters, all amounts vested in the Defaulters' Committee, precluding direct payment to the applicants. The court emphasized the statutory nature of Bye-Laws governing defaulter assets, prioritizing disbursement according to specified rules. The Chamber Summons was granted, with the order stayed for four weeks in the interest of justice. en-us Wed, 12 Mar 2003 00:00:00 +0530 Sat, 31 Mar 2012 18:49:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108508 The court found the Warrant of Attachment and Garnishee Notice invalid, setting them aside. It held that due to the respondents being declared defaulters, all amounts vested in the Defaulters' Committee, precluding direct payment to the applicants. The court emphasized the statutory nature of Bye-Laws governing defaulter assets, prioritizing disbursement according to specified rules. The Chamber Summons was granted, with the order stayed for four weeks in the interest of justice. Case-Laws Companies Law Wed, 12 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108508