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of <h1>Liability for Fraudulent Conduct During Company Winding Up: Directors and Officers Held Personally Responsible Under Section 339.</h1> Section 339 of the Companies Act, 2013 addresses liability for fraudulent business conduct during a company's winding up. If fraudulent intent to defraud creditors or others is found, the Tribunal can declare directors, managers, officers, or any involved parties personally responsible for the company's debts. The Tribunal may impose charges on debts or assets of those liable. Anyone knowingly involved in fraudulent business conduct may face action under Section 447. This section applies even if other laws impose penalties for related matters. 'Assignee' excludes those with valuable consideration given in good faith, and 'officer' includes those directing company actions.
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