Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
An executive director, being a member of the board and responsible for overall management, cannot evade liability merely by claiming lack of involvement in day-to-day affairs or receiving nominal salary. The court found a prima facie case against the petitioner, an executive director during the alleged offense period. Interfering at this stage would be an abuse of process. The trial court rightly applied the law in rejecting the discharge plea. With the trial underway and evidence being recorded, the HC declined to interfere in the ongoing proceedings against the executive director.
An executive director, being a member of the board and responsible for overall management, cannot evade liability merely by claiming lack of involvement in day-to-day affairs or receiving nominal salary. The court found a prima facie case against the petitioner, an executive director during the alleged offense period. Interfering at this stage would be an abuse of process. The trial court rightly applied the law in rejecting the discharge plea. With the trial underway and evidence being recorded, the HC declined to interfere in the ongoing proceedings against the executive director.
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