https://www.taxtmi.com/caselaws?id=754108 Delhi HC held ex-directors liable for fraudulent concealment and misappropriation of funds during company winding up proceedings. Directors failed to disclose sale consideration of Rs. 3,60,000 deposited in bank account to Official Liquidator. Court found no collusion between directors and third-party purchasers who acquired property before winding up petition. Directors ordered to pay Rs. 3,60,000 with 12% penal interest from sale deed date to Official Liquidator within 30 days. en-us Thu, 08 Feb 2024 00:00:00 +0530 Mon, 17 Jun 2024 22:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754108 Delhi HC held ex-directors liable for fraudulent concealment and misappropriation of funds during company winding up proceedings. Directors failed to disclose sale consideration of Rs. 3,60,000 deposited in bank account to Official Liquidator. Court found no collusion between directors and third-party purchasers who acquired property before winding up petition. Directors ordered to pay Rs. 3,60,000 with 12% penal interest from sale deed date to Official Liquidator within 30 days. Case-Laws Companies Law Thu, 08 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754108