https://www.taxtmi.com/caselaws?id=384033 The tribunal found the 2nd Respondent, as Managing Director, responsible for mismanagement and fraudulent activities, leading to significant financial losses for the company. The 2nd Respondent was held liable for manipulating shareholding, awarding contracts without disclosure, unauthorized withdrawals, and misappropriation of funds. The tribunal declared the 2nd Respondent liable to compensate the company for losses amounting to Rs. 1,42,84,389/-. Additionally, the tribunal directed the Petitioner and the 2nd Respondent to nominate directors to oversee the company's affairs and emphasized the need for a fresh settlement for the 2nd Respondent's exit from the company. en-us Fri, 02 Aug 2019 00:00:00 +0530 Tue, 10 Sep 2019 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384033 The tribunal found the 2nd Respondent, as Managing Director, responsible for mismanagement and fraudulent activities, leading to significant financial losses for the company. The 2nd Respondent was held liable for manipulating shareholding, awarding contracts without disclosure, unauthorized withdrawals, and misappropriation of funds. The tribunal declared the 2nd Respondent liable to compensate the company for losses amounting to Rs. 1,42,84,389/-. Additionally, the tribunal directed the Petitioner and the 2nd Respondent to nominate directors to oversee the company's affairs and emphasized the need for a fresh settlement for the 2nd Respondent's exit from the company. Case-Laws Companies Law Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384033