Disgorgement may enable recovery of fraud-tainted assets and impose unlimited personal liability for beneficiaries in corporate fraud cases. Amendments broaden authorised arresting officers to those not below Assistant Director, reassign post-arrest duties to the authorised officer, and add Special Court in venue language. Sub-section (14A) permits the Central Government to apply to the Tribunal for disgorgement of assets, property or cash obtained through company fraud and to seek orders holding directors, key managerial personnel, other officers or any person personally liable without limitation for such benefits.
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.
Disgorgement may enable recovery of fraud-tainted assets and impose unlimited personal liability for beneficiaries in corporate fraud cases.
Amendments broaden authorised arresting officers to those not below Assistant Director, reassign post-arrest duties to the authorised officer, and add Special Court in venue language. Sub-section (14A) permits the Central Government to apply to the Tribunal for disgorgement of assets, property or cash obtained through company fraud and to seek orders holding directors, key managerial personnel, other officers or any person personally liable without limitation for such benefits.
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