- (1.) The first respondent in CA No.604 of 2004 has taken out this application by the judge's summons dated August 8th, 2007 for an order deleting his name from the array of respondents in CA No.604 of 2004 and other consequential reliefs.
(2.) CA No.604 of 2004 is an application taken out by the official liquidator of this court under S.543 of the Companies Act, 1956 by the judge's summons dated October 1st, 2004. He took out the application initiating misfeasance proceedings against all the seven respondents named in the judge's summons as the erstwhile directors of Dewrance Macneill and Company Limited, the company in liquidation. The winding up proceedings in which the winding up order dated October 13th, 1999 was made by this court had been initiated on the basis of an order of the Board for Industrial and Financial Reconstruction constituted under provisions of the Sick Industrial Companies (Special Provisions) Act, 1985. The BIFR recommended that the company should be wound up.
(3.) In the pending winding up proceedings administrative order dated April 25th, 2003 was made by the company court appointing M/s. K.S. Bothra and Company auditors to find out the acts of misfeasance, if any, on the part of the erstwhile directors of the company in liquidation. Accordingly, the auditors submitted their report dated March 29th, 2003 (sic) concluding that there were enough prima facie facts showing misfeasance. Thereupon the official liquidator sought administrative directions from the company court and by order dated June 25th, 2004 Mr Ranajit Chowdhury, advocate, was engaged to take appropriate steps for initiating misfeasance proceedings. Under the circumstances, the judge's summons initiating the proceedings was taken out.;