https://www.taxtmi.com/caselaws?id=407904 A non-member public depositor was held entitled to seek repayment under Section 73(4) because Section 76(2) applies the Chapter V deposit framework mutatis mutandis to deposits accepted from the public and operates with overriding effect. The objection that the petition was not maintainable for want of membership was rejected. Procedural objections based on non-service of the Regional Director and Registrar of Companies were also rejected, as that service requirement was treated as inapplicable to a Section 73(4) petition. No insolvency bar was shown, so default was found proved and repayment with interest was directed. en-us Mon, 17 May 2021 00:00:00 +0530 Wed, 26 May 2021 08:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407904 A non-member public depositor was held entitled to seek repayment under Section 73(4) because Section 76(2) applies the Chapter V deposit framework mutatis mutandis to deposits accepted from the public and operates with overriding effect. The objection that the petition was not maintainable for want of membership was rejected. Procedural objections based on non-service of the Regional Director and Registrar of Companies were also rejected, as that service requirement was treated as inapplicable to a Section 73(4) petition. No insolvency bar was shown, so default was found proved and repayment with interest was directed. Case-Laws Companies Law Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407904