V.K.Sharma & Anr. vs Nemo on 25 January, 2017

2. Learned counsel for the Official Liquidator does not dispute the
position that the Serious Fraud Investigating Office, under the Union
Government has submitted reports concerning land of the company in
liquidation in the State of Andhra Pradesh and also by the Income Tax
department.
3. The appellant may not have a right to take the lead role in the
public examination of any person, but as the ex-Director of the company in

Co.App. No.1/2017 Page 1 of 4
liquidation would have a stake in the assets of the company being available
to pay the creditors. Learned counsel for the Official Liquidator concurs by
stating that public examination of persons is at the discretion of the court, to
be exercised as per law and that while conducting the public examination the
court can take assistance of any person. Section 478 of the Companies Act,
1956 envisages that any person can be examined publicly to disclose the
assets of a company in liquidation and such other relevant information as
would be helpful in the liquidation of the company.

Source: Indian Kanoon

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