https://www.taxtmi.com/caselaws?id=275246 The Court upheld the original adjudication by the Official Liquidator, stating that a decree against guarantors does not create a decretal debt against the company in liquidation. The Applicant was directed to submit proof of debt for safeguarding assets, with the Official Liquidator instructed to adjudicate the claim promptly. The Court rejected certain prayer clauses, allowing the Applicant to seek further payment if surplus funds arise. The Official Liquidator was also required to consider the Applicant's response to a show cause notice in their report, with no costs awarded. en-us Tue, 30 Jun 2015 00:00:00 +0530 Tue, 25 Sep 2018 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275246 The Court upheld the original adjudication by the Official Liquidator, stating that a decree against guarantors does not create a decretal debt against the company in liquidation. The Applicant was directed to submit proof of debt for safeguarding assets, with the Official Liquidator instructed to adjudicate the claim promptly. The Court rejected certain prayer clauses, allowing the Applicant to seek further payment if surplus funds arise. The Official Liquidator was also required to consider the Applicant's response to a show cause notice in their report, with no costs awarded. Case-Laws Companies Law Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275246