https://www.taxtmi.com/caselaws?id=194098 Prima facie material showing a pattern of diversion of investor funds to directors justifies interim attachment of specified immovable property under the Companies Act and initiation of a process to determine personal liability of ex-directors; the court applies an inferential, less exacting standard of proof than criminal law for interlocutory relief and orders attachment pending evidence. Separately, the official liquidator is authorised and directed to institute criminal complaints for non-filing of statement of affairs and non-delivery of records and to pursue statutory remedies, with a short timeframe and prescribed procedure for recording and exchanging evidence. en-us Wed, 26 Mar 2008 00:00:00 +0530 Fri, 22 Dec 2023 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194098 Prima facie material showing a pattern of diversion of investor funds to directors justifies interim attachment of specified immovable property under the Companies Act and initiation of a process to determine personal liability of ex-directors; the court applies an inferential, less exacting standard of proof than criminal law for interlocutory relief and orders attachment pending evidence. Separately, the official liquidator is authorised and directed to institute criminal complaints for non-filing of statement of affairs and non-delivery of records and to pursue statutory remedies, with a short timeframe and prescribed procedure for recording and exchanging evidence. Case-Laws Companies Law Wed, 26 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194098