https://www.taxtmi.com/caselaws?id=108645 Persons exercising de facto control over a company's affairs may be proceeded against for misfeasance, breach of trust and misapplication of funds even without formal appointment as directors, where the material shows actual direction, diversion of assets and loss to the company. Documentary material such as the official liquidator's report, auditors' report and statements recorded under the Companies (Court) Rules may be sufficient to establish liability when the facts are not seriously controverted, and oral evidence or cross-examination is not invariably required. On those findings, a request for discharge by the ex-directors or controlling persons cannot be sustained. en-us Fri, 13 Dec 2002 00:00:00 +0530 Tue, 03 Apr 2012 12:01:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108645 Persons exercising de facto control over a company's affairs may be proceeded against for misfeasance, breach of trust and misapplication of funds even without formal appointment as directors, where the material shows actual direction, diversion of assets and loss to the company. Documentary material such as the official liquidator's report, auditors' report and statements recorded under the Companies (Court) Rules may be sufficient to establish liability when the facts are not seriously controverted, and oral evidence or cross-examination is not invariably required. On those findings, a request for discharge by the ex-directors or controlling persons cannot be sustained. Case-Laws Companies Law Fri, 13 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108645