2011 (8) TMI 968

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....araj for the Respondent. ORDER 1. This application is filed under section 543(1) of the Companies Act, 1956 read with rule 260 of the Companies (Court) Rules, 1959 against the sole respondent with a prayer to direct the respondent to make good the loss suffered by the company in liquidation in a sum of Rs. 1,56,62,363. The details of the alleged misfeasance is enumerated in paras 8(a) to 10(a) t....

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.... be passed appointing M/s. Raghavendra Rao and Associates, Chartered Accountants to examine the accounts of the Company (in liquidation) and to file a report and same was filed. It came to be enclosed along with CA:756/2010. 5. It is the contention of Official Liquidator that as per para 7 at page 10 of the report, the Chartered Accountant has opined as under: "However, Sri K.S. Reddy was expire....

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....s stated by the Official Liquidator that ex-directors informed the office of Official Liquidator that entire amount has been spent by them for running the company after 31-3-1999 up to 31-3-2004. It is also stated at para 10(b) of the application that no supporting vouchers for the amounts spent from 1-4-1999 to 31-3-2004 has been produced before Official Liquidator for verification. These pleadin....