Court Finds Futura Ex-Directors' Conduct Questionable; Winding-Up Order Remains Until NCLT Decision Per IBC Section 13.

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....Liquidation of company - alleged malafide conduct of the ex-directors of Futura - Proceedings under IBC - The conduct attributed to the ex-directors, prima facie borne out from the record, can certainly be not said to be unblameworthy. - It is directed that the winding up order would continue to operate despite the transfer of the proceedings to NCLT till an effective order is passed by NCLT under Section 13 of the IBC and only, thereafter, the Official Liquidator would stand discharged - HC....