https://www.taxtmi.com/caselaws?id=112694 An independent administrative inquiry is ordered to examine prolonged inaction by the Official Liquidator in the liquidation of a company, on grounds that statutory duties of active administration and asset realization appear neglected and creditor rights may be time-barred; the inquiry is to assess delegation, recordkeeping, staff responsibility, and steps taken since winding up, require production of records and cooperation, and identify other liquidation files with similar lapses. The operative effect is appointment of a senior officer by the Ministry of Corporate Affairs to report within a short specified timeframe. en-us Thu, 06 Nov 2008 00:00:00 +0530 Tue, 25 Nov 2014 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112694 An independent administrative inquiry is ordered to examine prolonged inaction by the Official Liquidator in the liquidation of a company, on grounds that statutory duties of active administration and asset realization appear neglected and creditor rights may be time-barred; the inquiry is to assess delegation, recordkeeping, staff responsibility, and steps taken since winding up, require production of records and cooperation, and identify other liquidation files with similar lapses. The operative effect is appointment of a senior officer by the Ministry of Corporate Affairs to report within a short specified timeframe. Case-Laws Companies Law Thu, 06 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112694