https://www.taxtmi.com/caselaws?id=295944 The petition under Sections 433 (e) & (f) of the Companies Act, 1956 was admitted by the court due to the respondent company's default in payment, leading to the appointment of the Official Liquidator as the Provisional Liquidator. The Provisional Liquidator was tasked with taking control of the company's assets, Books of Accounts, and Registered Office. Publication of the petition's citation was ordered, and the respondent and its Directors were restrained from dealing with assets or bank accounts. Further directions were scheduled, emphasizing the court's serious intervention to safeguard the petitioner's interests and prevent asset dissipation. en-us Tue, 16 Aug 2016 00:00:00 +0530 Sat, 26 Jun 2021 06:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295944 The petition under Sections 433 (e) & (f) of the Companies Act, 1956 was admitted by the court due to the respondent company's default in payment, leading to the appointment of the Official Liquidator as the Provisional Liquidator. The Provisional Liquidator was tasked with taking control of the company's assets, Books of Accounts, and Registered Office. Publication of the petition's citation was ordered, and the respondent and its Directors were restrained from dealing with assets or bank accounts. Further directions were scheduled, emphasizing the court's serious intervention to safeguard the petitioner's interests and prevent asset dissipation. Case-Laws Companies Law Tue, 16 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295944