https://www.taxtmi.com/caselaws?id=427120 The appeal seeking condonation of delay in filing against an order directing the refund of a deposited amount in a company-in-liquidation case was dismissed. The court found the appellant's lack of prompt action and diligence in submitting the revival scheme precluded the grant of interest on the refunded amount. Emphasizing the appellant's responsibility in the company's affairs and the absence of compelling reasons for interest payment, the court upheld the decision to deny interest. The appellant's argument of insufficient information as a reason for delay was rejected, leading to the dismissal of the appeal and closure of pending applications. en-us Tue, 16 Aug 2022 00:00:00 +0530 Fri, 02 Sep 2022 08:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427120 The appeal seeking condonation of delay in filing against an order directing the refund of a deposited amount in a company-in-liquidation case was dismissed. The court found the appellant's lack of prompt action and diligence in submitting the revival scheme precluded the grant of interest on the refunded amount. Emphasizing the appellant's responsibility in the company's affairs and the absence of compelling reasons for interest payment, the court upheld the decision to deny interest. The appellant's argument of insufficient information as a reason for delay was rejected, leading to the dismissal of the appeal and closure of pending applications. Case-Laws Companies Law Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427120