https://www.taxtmi.com/caselaws?id=397711 The appeals against the impugned orders dated 26.04.2019 and 04.09.2019 by NCLT, Mumbai Bench were dismissed. The relief sought for setting aside these orders and directions to de-seal accounts was not granted. The court found that the appellants, including individuals accessing joint lockers without knowledge of the NCLT order and transferring funds in alleged disobedience, could be subjected to relevant sections of the Companies Act, 2013. Allegations of mismanagement and mis-governance by IL&FS Group entities, including siphoning funds and drawing hefty salaries, were considered. The comparison with a Supreme Court judgment regarding preventive steps against fraud supported the decision to dismiss both appeals without costs. en-us Fri, 29 May 2020 00:00:00 +0530 Mon, 31 Aug 2020 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397711 The appeals against the impugned orders dated 26.04.2019 and 04.09.2019 by NCLT, Mumbai Bench were dismissed. The relief sought for setting aside these orders and directions to de-seal accounts was not granted. The court found that the appellants, including individuals accessing joint lockers without knowledge of the NCLT order and transferring funds in alleged disobedience, could be subjected to relevant sections of the Companies Act, 2013. Allegations of mismanagement and mis-governance by IL&FS Group entities, including siphoning funds and drawing hefty salaries, were considered. The comparison with a Supreme Court judgment regarding preventive steps against fraud supported the decision to dismiss both appeals without costs. Case-Laws Companies Law Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397711