1991 (9) TMI 301

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.... Jaishree Thakur for the Petitioner. P.N. Arora, L.M. Suri and Arun Kumar for the Respondent. JUDGMENT M.S. Liberhan, J. - The company was ordered to be wound up in November 29, 1979. Admittedly, the business was suspended in the year 1976. The company suffered a loss to the tune of Rs. 39,056.69. The official liquidator has preferred an application under section 542 read with section ....

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....r not filing the statement regarding the affairs of the company and not producing the record before the official liquidator, it was found that they were neither in a position to do so nor they were actively running the affairs of the company. Even in this petition, there are no allegations against respondents Nos. 3 and 4 for running the company. It is further stated that the company is not to pay....