https://www.taxtmi.com/caselaws?id=383663 The Court found the respondents guilty of misappropriating company funds, with a discrepancy of Rs. 25,96,225. The respondents agreed to hand over property title deeds for auction to offset the misappropriated amount. The auction resulted in a sale for Rs. 24,50,000, and the property was registered in the name of the auction purchaser. As the individual accused had no other recoverable assets, the Company Application was closed, and the liquidation process was expedited. The Court confirmed the sale of the auctioned property and instructed the Official Liquidator to promptly conclude the liquidation process, with no costs awarded. en-us Tue, 23 Jul 2019 00:00:00 +0530 Mon, 29 Jul 2019 08:18:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383663 The Court found the respondents guilty of misappropriating company funds, with a discrepancy of Rs. 25,96,225. The respondents agreed to hand over property title deeds for auction to offset the misappropriated amount. The auction resulted in a sale for Rs. 24,50,000, and the property was registered in the name of the auction purchaser. As the individual accused had no other recoverable assets, the Company Application was closed, and the liquidation process was expedited. The Court confirmed the sale of the auctioned property and instructed the Official Liquidator to promptly conclude the liquidation process, with no costs awarded. Case-Laws Companies Law Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383663