https://www.taxtmi.com/caselaws?id=780546 HC dismissed the appeal, holding that the Company Court's role under the Companies Act is confined to supervising winding up, realising assets, adjudicating creditor claims and distributing proceeds, and it cannot be used to shield guarantors from post-liquidation recovery proceedings. Once a final winding up order is passed and the Official Liquidator has completed asset realisation and distributions, guarantors' liabilities remain independent of the company's liquidation (as affirmed by the SC), and they may pursue remedies in other fora (e.g., DRT or civil courts) but cannot invoke the Company Court to restrain personal recovery; appeal dismissed. en-us Wed, 08 Oct 2025 00:00:00 +0530 Sat, 01 Nov 2025 08:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780546 HC dismissed the appeal, holding that the Company Court's role under the Companies Act is confined to supervising winding up, realising assets, adjudicating creditor claims and distributing proceeds, and it cannot be used to shield guarantors from post-liquidation recovery proceedings. Once a final winding up order is passed and the Official Liquidator has completed asset realisation and distributions, guarantors' liabilities remain independent of the company's liquidation (as affirmed by the SC), and they may pursue remedies in other fora (e.g., DRT or civil courts) but cannot invoke the Company Court to restrain personal recovery; appeal dismissed. Case-Laws Companies Law Wed, 08 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780546