Relief for company officers: may be excused from liability if they acted honestly and reasonably, subject to procedural notice. Section 633 allows a court to relieve a company officer from liability for negligence, default, breach of duty, misfeasance or breach of trust if the officer has acted honestly and reasonably and should fairly be excused; relief may be whole or partial and on terms. In criminal proceedings the court cannot grant relief from civil liability. An officer may seek anticipatory relief from the High Court, and no relief is to be granted without notice to the Registrar and other persons to show cause.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Relief for company officers: may be excused from liability if they acted honestly and reasonably, subject to procedural notice.
Section 633 allows a court to relieve a company officer from liability for negligence, default, breach of duty, misfeasance or breach of trust if the officer has acted honestly and reasonably and should fairly be excused; relief may be whole or partial and on terms. In criminal proceedings the court cannot grant relief from civil liability. An officer may seek anticipatory relief from the High Court, and no relief is to be granted without notice to the Registrar and other persons to show cause.
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