https://www.taxtmi.com/caselaws?id=110808 The court found that the respondents, except for one who retired before the debts became time-barred, were guilty of misfeasance, negligence, or breach of trust. They were held jointly and severally liable to compensate the company for the loss of Rs. 17,00,088.67, with interest at 9% per annum. The court concluded that the application under section 543(1) of the Companies Act was not barred by limitation, as it was filed within the relevant timeframe. The respondents were ordered to make good the loss caused to the company under liquidation. en-us Wed, 19 Apr 2006 00:00:00 +0530 Wed, 18 Apr 2012 16:59:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110808 The court found that the respondents, except for one who retired before the debts became time-barred, were guilty of misfeasance, negligence, or breach of trust. They were held jointly and severally liable to compensate the company for the loss of Rs. 17,00,088.67, with interest at 9% per annum. The court concluded that the application under section 543(1) of the Companies Act was not barred by limitation, as it was filed within the relevant timeframe. The respondents were ordered to make good the loss caused to the company under liquidation. Case-Laws Companies Law Wed, 19 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110808