[52 ]- Ss. 241(2),337 and 339 –“Any persons who were knowingly parties to the carrying on of the business in the manner aforesaid” who can be proceeded against in terms of S. 339(1) – Persons covered thereunder – “Business in the manner aforesaid” in the above expression in S. 339(1), held, means the business of the company whose affairs are alleged to be mismanaged and not to the business of some other company – Thus, freezing of assets of a person not belonging to the company whose affairs are alleged as being mismanaged/ fraudulently conducted, held, is impermissible,
(2020) 4 SCC 122
