OFFICIAL LIQUIDATOR OF MICROFERT AGRO CHEMICALS (P.) LTD. (IN LIQUIDATION) Vs. N. SHASHI KUMAR

JUDGEMENT

(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) to (c) of the application.

(2.) HEARD the learned counsel for the Official Liquidator and the learned counsel appearing for respondent. Perused the records.

(3.) THIS court, on a report filed by the Official Liquidator in OLR No. 260/2009, an order dated 7 -4 -2010 came to 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.