https://www.taxtmi.com/caselaws?id=330167 The Company Law Board ordered a petitioner company to repay Rs. 30 crores to depositors in installments by specific dates. Despite warnings and multiple adjournments, the company failed to comply with the repayment orders. The Bench dismissed the petition due to the company's inability to repay, allowing depositors to pursue legal remedies. The Registrar of Companies was advised to take action against the company under Section 74(3) of the Companies Act, 2013, and the related committees were dissolved. en-us Mon, 04 Jul 2016 00:00:00 +0530 Tue, 19 Jul 2016 13:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330167 The Company Law Board ordered a petitioner company to repay Rs. 30 crores to depositors in installments by specific dates. Despite warnings and multiple adjournments, the company failed to comply with the repayment orders. The Bench dismissed the petition due to the company's inability to repay, allowing depositors to pursue legal remedies. The Registrar of Companies was advised to take action against the company under Section 74(3) of the Companies Act, 2013, and the related committees were dissolved. Case-Laws Companies Law Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330167