Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Companies Law - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Prosecution proceedings against the Director - Non-submission of ...


Court Clears Former Directors of Liability for 2014 Financial Reporting Defaults After Resignations in 1995 and 1998.

May 5, 2023

Case Laws     Companies Law     HC

Prosecution proceedings against the Director - Non-submission of financial statement within the stipulated time with registrar of companies - Admittedly, petitioners resigned w.e.f. 19.04.1995 and 05.05.1998. Much thereafter, alleged defaults have been committed. - petitioners made out their case for interference. Once, they resigned in the years 1995 and 1998, then they cannot be fastened with any liability for a period of 2014. - HC

View Source

 


 

You may also like:

  1. Disqualification of Directors - defaulting directors - Section 164(2) of the Act operates prospectively i.e. w.e.f 7.5.2018. - However, such prospective operation would...

  2. Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial...

  3. Disqualification of Director - deactivation of DIN - It cannot but be held that the operation of the 2014 and 2018 Amendments to the 2013 Act are prospective in nature -...

  4. Dishonour of Cheque - Liability of a Director - principles of vicarious liability - petitioner had already resigned on 15.03.2014 as Director of the Company and was...

  5. HC adjudicated a case involving vicarious liability under Section 141 of the Negotiable Instruments Act for an Independent Director. The Court held that mere designation...

  6. HC held that the director cannot be personally liable for company's export obligation defaults without specific allegations demonstrating direct responsibility. The...

  7. Disqualification upon the petitioners for acting as Directors of Companies - Deactivation of DIN - Section 164(2) must be given only prospective operation and the...

  8. Declaration of Wilful Defaulter of the petitioner - Liability of Directors - The High Court dismissed the petitioner's arguments regarding the mechanical repetition of...

  9. Disqualification of Director - Non filing of annual returns - Scope of the circular - Provisions of Schedule II and Schedule III of the Act of 2013 also came into effect...

  10. Liability of Independent Director who was retired before the date of offence - the petitioner as seen from the documents was an Additional Director on the date the board...

  11. The High Court set aside the order of the Settlement Commission affirming the petitioner's liability to pay further amounts towards interest, over and above the customs...

  12. Penalty u/s. 271B - delay in obtaining Tax Audit Report - Being a public sector unit, the assessee company after completion of statutory audit under Companies Act is...

  13. HC dismisses petition regarding vicarious liability under Section 141 of Negotiable Instruments Act. The court upheld that a former director cannot be held criminally...

  14. Dishonour of Cheque - vicarious liability of Director of the Company - The petitioner, a former non-executive additional director of the accused company, contended that...

  15. The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

 

Quick Updates:Latest Updates