https://www.taxtmi.com/caselaws?id=782099 A company in liquidation may remain under court supervision where appointed officers fail to account for assets, deal unilaterally with company property, and act contrary to fiduciary duties; in such circumstances, prior supervisory arrangements may be treated as tainted by fraud and abuse of process, with inherent powers used to recall them and restore lawful management. The text also explains that prolonged liquidation control can be replaced by a permanent stay of winding up, handover of records and assets, rectification of the register, and reconstitution of the board through shareholders, while post-winding-up transfers may be ignored for that purpose. A transfer to the NCLT was considered untenable where fraud allegations and record manipulation remained for determination. en-us Thu, 20 Nov 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782099 A company in liquidation may remain under court supervision where appointed officers fail to account for assets, deal unilaterally with company property, and act contrary to fiduciary duties; in such circumstances, prior supervisory arrangements may be treated as tainted by fraud and abuse of process, with inherent powers used to recall them and restore lawful management. The text also explains that prolonged liquidation control can be replaced by a permanent stay of winding up, handover of records and assets, rectification of the register, and reconstitution of the board through shareholders, while post-winding-up transfers may be ignored for that purpose. A transfer to the NCLT was considered untenable where fraud allegations and record manipulation remained for determination. Case-Laws Companies Law Thu, 20 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782099