https://www.taxtmi.com/caselaws?id=301293 The tribunal held the suspended directors liable for fraudulent transactions, directing them to compensate and refund misappropriated amounts. The Auditor was fined for signing the balance sheet without adequate support. Additionally, the tribunal ordered the retrieval and compensation of amounts involved in preferential and undervalued transactions, with assets to be vested back into the Corporate Debtor. The ex-management was found responsible for the fraudulent, preferential, and undervalued transactions, requiring compensations and reimbursements to the Resolution Professional. en-us Mon, 04 Oct 2021 00:00:00 +0530 Fri, 25 Mar 2022 08:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301293 The tribunal held the suspended directors liable for fraudulent transactions, directing them to compensate and refund misappropriated amounts. The Auditor was fined for signing the balance sheet without adequate support. Additionally, the tribunal ordered the retrieval and compensation of amounts involved in preferential and undervalued transactions, with assets to be vested back into the Corporate Debtor. The ex-management was found responsible for the fraudulent, preferential, and undervalued transactions, requiring compensations and reimbursements to the Resolution Professional. Case-Laws Insolvency and Bankruptcy Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301293