https://www.taxtmi.com/caselaws?id=193533 The Court allowed the appeal against the rejection of the claim by the Asstt. Official Liquidator (OL). It was found that the OL was aware of the appellant's settlement with the bank and acknowledged the payments made, indicating awareness of the situation. The Court held that the appellant, having paid the creditor, was entitled to lodge a claim for recovery from the company's assets. The Court rejected the OL's argument of being unaware of the payments and emphasized the appellant's right to seek recovery after settling the company's debts. The OL's order was set aside, and the OL was directed to consider the appellant's claim in accordance with the law. en-us Mon, 29 Feb 2016 00:00:00 +0530 Fri, 04 Aug 2017 07:00:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193533 The Court allowed the appeal against the rejection of the claim by the Asstt. Official Liquidator (OL). It was found that the OL was aware of the appellant's settlement with the bank and acknowledged the payments made, indicating awareness of the situation. The Court held that the appellant, having paid the creditor, was entitled to lodge a claim for recovery from the company's assets. The Court rejected the OL's argument of being unaware of the payments and emphasized the appellant's right to seek recovery after settling the company's debts. The OL's order was set aside, and the OL was directed to consider the appellant's claim in accordance with the law. Case-Laws Companies Law Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193533