https://www.taxtmi.com/acts?id=12943 Section 538 criminalises specified conduct by past or present officers during winding up: non-disclosure of company property and dealings to the liquidator; failure to deliver up property or books; concealment, destruction, falsification, or fraudulent removal of property or records; false entries or material omissions in company statements; obtaining goods on credit by false representation; pawning or disposing of credit-obtained property outside the ordinary course of business; and using fraud to obtain creditor consent. Receiving property knowingly pawned or disposed of in such circumstances is separately punishable. Defences exist where lack of intent to defraud or to conceal is proved, and "officer" includes persons directing the directors. en-us Wed, 18 May 2011 12:26:41 +0530 Wed, 18 May 2011 12:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12943 Section 538 criminalises specified conduct by past or present officers during winding up: non-disclosure of company property and dealings to the liquidator; failure to deliver up property or books; concealment, destruction, falsification, or fraudulent removal of property or records; false entries or material omissions in company statements; obtaining goods on credit by false representation; pawning or disposing of credit-obtained property outside the ordinary course of business; and using fraud to obtain creditor consent. Receiving property knowingly pawned or disposed of in such circumstances is separately punishable. Defences exist where lack of intent to defraud or to conceal is proved, and "officer" includes persons directing the directors. Act-Rules Companies Law Wed, 18 May 2011 12:26:41 +0530 https://www.taxtmi.com/acts?id=12943