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2018 (3) TMI 718 - HC - Companies LawWinding up petition - Held that:- In the course of winding up of a company, it appears that any person who has misapplied, or retained, or become liable or accountable for, any money or property of the company, the court can direct the said person to repay or restore the money. May only note that under section 446 of the Companies Act where winding up order has been made, the OL takes into custody and control all the property of the company of which the company is entitled to. It is apparent from the facts as stated above that Mr. Vinod Vij, the Ex-Director of the Company after passing of the winding up order taken money from the Batra Hospital which he was not entitled to receive in terms of the provisions of the Companies Act. He further claims to have disbursed the amount for the bonafide payment of debts of the respondent Company which he could not have done. This fact itself of having disbursed the funds to discharge the bonafide debts of the respondent Company is a doubtful contention. Further there is no merit in the plea of Mr. Vij that he was not aware that he cannot operate the accounts of the company to make bonafide payments for and on behalf of the company. Allow the present application and pass a direction to Mr. Vinod Vij to deposit with the OL the said amount of ₹ 16,31,174/- within four weeks from today. In the interest of justice, the period for depositing the said sum is extended by eight weeks.
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