https://www.taxtmi.com/caselaws?id=97026 A director occupies a fiduciary position toward the company and its members, and a breach of that duty causing loss may be treated as misfeasance amounting to breach of trust. On that footing, a decree obtained in misfeasance proceedings was held to fall within the proviso to section 51 of the Code of Civil Procedure, because the director was bound to account in a fiduciary capacity for the amount decreed. The decree could not be reopened in execution, and arrest in execution was therefore upheld. The principle is that fiduciary liability arising from breach of directors' duties can justify arrest under section 51 where the decretal amount represents a sum for which the director must account. en-us Tue, 23 Aug 1949 00:00:00 +0530 Fri, 13 Jan 2012 16:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97026 A director occupies a fiduciary position toward the company and its members, and a breach of that duty causing loss may be treated as misfeasance amounting to breach of trust. On that footing, a decree obtained in misfeasance proceedings was held to fall within the proviso to section 51 of the Code of Civil Procedure, because the director was bound to account in a fiduciary capacity for the amount decreed. The decree could not be reopened in execution, and arrest in execution was therefore upheld. The principle is that fiduciary liability arising from breach of directors' duties can justify arrest under section 51 where the decretal amount represents a sum for which the director must account. Case-Laws Companies Law Tue, 23 Aug 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97026