https://www.taxtmi.com/caselaws?id=220564 The court ruled in favor of the Official Liquidator, directing the National Stock Exchange of India Ltd. (NSEIL) to deposit a specified sum with the Official Liquidator under the Companies Act, 1956. The court held that upon the initiation of liquidation proceedings, the Official Liquidator assumes control over the company's assets, including funds deposited with NSEIL. The judgment clarified that the funds deposited with NSEIL constitute company property and must be remitted to the Official Liquidator. NSEIL's application was dismissed, affirming the Official Liquidator's authority over the company's assets during the liquidation process. en-us Wed, 23 Jan 2013 00:00:00 +0530 Thu, 31 Jan 2013 01:13:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220564 The court ruled in favor of the Official Liquidator, directing the National Stock Exchange of India Ltd. (NSEIL) to deposit a specified sum with the Official Liquidator under the Companies Act, 1956. The court held that upon the initiation of liquidation proceedings, the Official Liquidator assumes control over the company's assets, including funds deposited with NSEIL. The judgment clarified that the funds deposited with NSEIL constitute company property and must be remitted to the Official Liquidator. NSEIL's application was dismissed, affirming the Official Liquidator's authority over the company's assets during the liquidation process. Case-Laws Companies Law Wed, 23 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220564