TaxTMI 
TaxTMI 
2005 (5) TMI 330
X X X X Extracts X X X X
X X X X Extracts X X X X
.... perused the entire record of the application. 2. The applicant has not given out the provisions of the Companies Act, 1956 or the Companies (Court) Rules, 1959 as to under which provision he has filed this application. 3. In the application, the applicant has prayed for grant of following relief : "(a)Issue appropriate direction to the first respondent namely the Official Liquidator, attached ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....is none other than the Director of M/s. Surya Power Limited (In liquidation). It is not gainsay that because of the misdeeds, inaction, omission and mismanagement etc. of the applicant and its other Directors, the Company has gone in liquidation. It is really shocking and surprising that a person who himself may be responsible for bringing down the Company (in liquidation) to this position, has co....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e applicant wants to settle the matter with Bank by paying some money from his own pocket and rest of it from the Company (in liquidation) but that is not permissible. Otherwise also it is a matter between the Bank and the Official Liquidator and not the applicant. Such a prayer may be available to the applicant on a compromise scheme under section 391 of the Act, 1956 is brought to the court. Th....