https://www.taxtmi.com/caselaws?id=113445 The Court, invoking section 543 of the Companies Act, 1956, granted reliefs against ex-directors for misfeasance and breach of trust. The ex-directors were summoned for examination, with two engaging counsel and one being placed ex parte. Claims for repayment were upheld, with the Court assessing damages within the prescribed time limit. Despite discrepancies in asset valuation, the ex-directors were held liable for financial discrepancies, ordering repayment of a specific amount with reduced interest. en-us Fri, 28 May 2010 00:00:00 +0530 Mon, 06 Oct 2014 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113445 The Court, invoking section 543 of the Companies Act, 1956, granted reliefs against ex-directors for misfeasance and breach of trust. The ex-directors were summoned for examination, with two engaging counsel and one being placed ex parte. Claims for repayment were upheld, with the Court assessing damages within the prescribed time limit. Despite discrepancies in asset valuation, the ex-directors were held liable for financial discrepancies, ordering repayment of a specific amount with reduced interest. Case-Laws Companies Law Fri, 28 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113445