Court Rules Amalgamation Not Equivalent to Winding Up for Tax Arrears Recovery from Directors Under Companies Act.

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....Recovery of arrears of tax due from a private limited companyfrom the Directors of the company - The stand of the respondent that since the 3rd respondent has been amalgamated with the 4th respondent, the same is to be deemed to be under winding up, does not appeal this Court for acceptance - The procedure for winding up of a company is prescribed under Part II of Chapter XX of the Companies Act, and operates in a different field and cannot be considered same as in the case of amalgamation. - HC....