COVID-19 limitation exclusion and destination-specific e-way bills govern revisional timelines and penalties for undocumented third-party plywood deli...
Questions arising from miscellaneous application orders cannot challenge unaltered Tribunal findings, leaving the original order separately challengea...
Transfer-pricing comparability filters require fresh arm's-length analysis, while delayed receivables need separate reconsideration with working-capit...
Section 153C jurisdiction requires timely deemed search and assessee-specific satisfaction material; otherwise reassessment must use the proper statut...
Financial-institution nominee directors are protected from...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaults.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Financial-institution nominee directors are protected from liability arising merely from their directorship, including good-faith acts or omissions in discharging directorial duties. A nominee and independent non-executive director who had no material relationship or transaction with the company or its management, and no involvement in daily operations, deposit solicitation, or repayment, was not liable for the company's non-compliance with a deposit-repayment order. Criminal proceedings alleging that non-compliance were quashed against that director.
Financial-institution nominee directors are protected from liability arising merely from their directorship, including good-faith acts or omissions in discharging directorial duties. A nominee and independent non-executive director who had no material relationship or transaction with the company or its management, and no involvement in daily operations, deposit solicitation, or repayment, was not liable for the company's non-compliance with a deposit-repayment order. Criminal proceedings alleging that non-compliance were quashed against that director.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
