https://www.taxtmi.com/caselaws?id=356150 The court dismissed the application under Section 466 of the Companies Act, 1956 for maintaining status quo regarding ownership and possession of assets of a company in liquidation. The applicant failed to disclose outstanding dues to income tax and service tax authorities, lacked bona fide intentions, and did not make payments to creditors despite assurances. The court ordered the applicant to pay costs to petitioning creditors and emphasized transparency and genuine intentions in such applications. en-us Thu, 04 Jan 2018 00:00:00 +0530 Mon, 26 Feb 2018 08:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356150 The court dismissed the application under Section 466 of the Companies Act, 1956 for maintaining status quo regarding ownership and possession of assets of a company in liquidation. The applicant failed to disclose outstanding dues to income tax and service tax authorities, lacked bona fide intentions, and did not make payments to creditors despite assurances. The court ordered the applicant to pay costs to petitioning creditors and emphasized transparency and genuine intentions in such applications. Case-Laws Companies Law Thu, 04 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356150