https://www.taxtmi.com/caselaws?id=109458 The Court allowed the official liquidator's application, directing Bank of India to release Rs. 15 lakh along with accrued interest held in the form of FDR to the official liquidator within one month. The Court emphasized the need to distribute all assets of the company in liquidation as per the Companies Act, considering the amount in the FDR as a moveable asset capable of distribution. The Court asserted its powers to ensure proper asset distribution despite attachment proceedings by secured creditors, citing the Companies Act's objectives in winding up cases. en-us Wed, 29 Oct 2003 00:00:00 +0530 Tue, 10 Apr 2012 13:02:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109458 The Court allowed the official liquidator's application, directing Bank of India to release Rs. 15 lakh along with accrued interest held in the form of FDR to the official liquidator within one month. The Court emphasized the need to distribute all assets of the company in liquidation as per the Companies Act, considering the amount in the FDR as a moveable asset capable of distribution. The Court asserted its powers to ensure proper asset distribution despite attachment proceedings by secured creditors, citing the Companies Act's objectives in winding up cases. Case-Laws Companies Law Wed, 29 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109458