https://www.taxtmi.com/caselaws?id=103170 Directors and ex-directors of a sick company pending before the BIFR were granted relief under section 633(2) of the Companies Act, 1956 because the company had remained closed for a long period, revival efforts were continuing, and the board had been reconstituted. The HC noted that the position was substantially the same as in the earlier order, that statutory duties could not practically be performed in the existing circumstances, and that public interest supported relief. The application was allowed, and the named directors and ex-directors were relieved from liability for negligence, default, breach of duty, misfeasance or breach of trust for two years. en-us Wed, 10 Feb 1993 00:00:00 +0530 Tue, 21 Feb 2012 12:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103170 Directors and ex-directors of a sick company pending before the BIFR were granted relief under section 633(2) of the Companies Act, 1956 because the company had remained closed for a long period, revival efforts were continuing, and the board had been reconstituted. The HC noted that the position was substantially the same as in the earlier order, that statutory duties could not practically be performed in the existing circumstances, and that public interest supported relief. The application was allowed, and the named directors and ex-directors were relieved from liability for negligence, default, breach of duty, misfeasance or breach of trust for two years. Case-Laws Companies Law Wed, 10 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103170