NCLT Hyderabad allows two contempt petitions against suspended directors of AGS Management Services for willful disobedience of tribunal orders.
Directors ordered to appear and show cause for failing to contribute Rs 9.99 lakh to liquidation account and hand over property worth Rs 14 lakh.
Tribunal finds directors committed civil contempt by refusing notices and ignoring multiple compliance communications from the liquidator.
The orders stem from earlier findings of preferential transactions and non-handover of assets during the company's liquidation process.