DCM FINANCIAL SERVICES LTD. vs NEEL KAMAL PLASTICS LTD.

The Supreme Court upheld the orders of the Punjab & Haryana High Court requiring the appellant to deposit Rs. one crore received from the sale of property belonging to M/s. Pure Drinks (New Delhi) Ltd. under Sections 433 and 434 of the Companies Act, 1956. The Court emphasized the need for transparency and consistency in proceedings involving multiple creditors and courts, affirming the High Court's decision to ensure equitable treatment of all creditors. The appeal was dismissed, reinforcing the principle that creditors must act in good faith and report concurrent proceedings to avoid conflicting orders.