https://www.taxtmi.com/caselaws?id=110228 The court dismissed the application seeking direction for Ex-Directors to pay a sum under Section 543(1) of the Companies Act, 1956, as it lacked specific allegations and evidence of misfeasance or breach of trust. The court applied Section 458A for limitation, holding the application within the period. Relying on the Andhra Pradesh HC's interpretation, the court favored extending the limitation period. The judgment emphasized the need for specific evidence to hold Directors liable under Section 543, ultimately leading to the dismissal of the application. en-us Fri, 15 Oct 2004 00:00:00 +0530 Sat, 07 Oct 2017 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110228 The court dismissed the application seeking direction for Ex-Directors to pay a sum under Section 543(1) of the Companies Act, 1956, as it lacked specific allegations and evidence of misfeasance or breach of trust. The court applied Section 458A for limitation, holding the application within the period. Relying on the Andhra Pradesh HC's interpretation, the court favored extending the limitation period. The judgment emphasized the need for specific evidence to hold Directors liable under Section 543, ultimately leading to the dismissal of the application. Case-Laws Companies Law Fri, 15 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110228