https://www.taxtmi.com/caselaws?id=292104 Section 543 of the Indian Companies Act was treated as an enabling summary remedy in winding up, not as a provision that ousts the ordinary civil jurisdiction. A claim for repayment of company funds allegedly wrongfully retained or misapplied by a director could therefore still be pursued in a civil suit where the underlying liability existed independently of the section. The Court also held that misfeasance proceedings under the section are personal to the director or officer concerned and do not lie against executors, heirs, or legal representatives in those proceedings. The civil suit against the deceased director's estate in the hands of the legal representatives was thus maintainable. en-us Tue, 08 Oct 1963 00:00:00 +0530 Mon, 07 Dec 2020 11:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292104 Section 543 of the Indian Companies Act was treated as an enabling summary remedy in winding up, not as a provision that ousts the ordinary civil jurisdiction. A claim for repayment of company funds allegedly wrongfully retained or misapplied by a director could therefore still be pursued in a civil suit where the underlying liability existed independently of the section. The Court also held that misfeasance proceedings under the section are personal to the director or officer concerned and do not lie against executors, heirs, or legal representatives in those proceedings. The civil suit against the deceased director's estate in the hands of the legal representatives was thus maintainable. Case-Laws Indian Laws Tue, 08 Oct 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292104