1987 (9) TMI 344

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.... for the Petitioner. JUDGMENT R.N. Mittal, J. - The petitioner-company was ordered to be wound up by this court, vide order dated August 31, 1984, in Company Petition No, 41 of 1983 and the official liquidator was appointed as its liquidator. Respondents Nos. 1 and 2 were its managing director and director, respectively, during the time it functioned. The respondents, it is alleged, did not ....

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....ian Express, Mount Road, Madras 29.40 4. The Times of India, Ahmedabad 6.00 5. Sh. Ajit Singh, Sherpur Engg., Garh Road, Meerut 16.20 6. Pt. Hem Raj Sharma Raj Jyotishi, V. & P.O., Kartarpur 600.00 7 M/s Bagga Art Studio, Gill Road, Rani Market, Ludhiana 395.07 8. Ramesh K. Nanchahal, Impression International G. T. Road, Miller Ganj, Ludhiana-3 718.4....

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.... winding-up order, i.e., August 31, 1984, till the date of realisation of the amount, be passed in favour of the petitioner company and against the respondents jointly and severally. Notice of the petition was issued to the respondents. The respondents did not appear to contest the case. Consequently, they were proceeded against ex parte. The petitioner, in order to prove the case, produced ....

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....h of trust in relation to the company, the court may, on the application of the official liquidator, or the liquidator, examine into the conduct of the director and compel him to contribute such sum to the assets of the company by way of compensation in respect of misfeasance or breach of trust as the court thinks just. The words "misfeasance and breach of trust" have been defined by the Supreme C....