https://www.taxtmi.com/caselaws?id=213561 The court decided that property No. 1, Sikandara Road, New Delhi, should be sold to pay off the debts of M/s. Ganga Automobiles Limited (GAL). Mr. G. Sagar Suri had the authority to bind M/s. Delhi Automobiles Ltd. in the sale of the property. GAL and M/s. Delhi Automobiles Ltd. failed to comply with court orders and undertakings, leading to a deemed winding-up order. Attempts to create a third-party interest in the property were deemed to circumvent court orders. Show-cause notices were issued to Directors for false/misleading statements. The court allowed the sale of the property to pay off debts and took action against the Directors for their actions. en-us Mon, 04 Apr 2011 00:00:00 +0530 Wed, 06 Feb 2013 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213561 The court decided that property No. 1, Sikandara Road, New Delhi, should be sold to pay off the debts of M/s. Ganga Automobiles Limited (GAL). Mr. G. Sagar Suri had the authority to bind M/s. Delhi Automobiles Ltd. in the sale of the property. GAL and M/s. Delhi Automobiles Ltd. failed to comply with court orders and undertakings, leading to a deemed winding-up order. Attempts to create a third-party interest in the property were deemed to circumvent court orders. Show-cause notices were issued to Directors for false/misleading statements. The court allowed the sale of the property to pay off debts and took action against the Directors for their actions. Case-Laws Companies Law Mon, 04 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213561