https://www.taxtmi.com/caselaws?id=459596 The HC held KSSPL liable for the missing plant and machinery from the factory premises, citing gross negligence in its security duties. Consequently, KSSPL was ordered to pay Rs. 70 lakhs to the OL for ICL's account, with an eight-week deadline. Failure to comply would result in a 12% annual interest penalty. The OL was authorized to pursue further legal recovery actions if necessary. The application was disposed of with these directives. en-us Thu, 30 May 2013 00:00:00 +0530 Thu, 19 Dec 2024 18:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459596 The HC held KSSPL liable for the missing plant and machinery from the factory premises, citing gross negligence in its security duties. Consequently, KSSPL was ordered to pay Rs. 70 lakhs to the OL for ICL's account, with an eight-week deadline. Failure to comply would result in a 12% annual interest penalty. The OL was authorized to pursue further legal recovery actions if necessary. The application was disposed of with these directives. Case-Laws Indian Laws Thu, 30 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459596