https://www.taxtmi.com/caselaws?id=104517 In winding-up proceedings, personal liability of directors may arise where misapplication of assets, breach of duty, negligence, non-cooperation, or inaction causes company assets or debts to become irrecoverable, and liability may also follow for unsupported expenditure. The discussion notes that time-barred recoveries, failure to supply correct addresses to the official liquidator, and absence of vouchers can support a finding of misfeasance and breach of duty if unrebutted by evidence. It also states that personal liability cannot be imposed without proof that a person was in fact a director during the relevant period. en-us Thu, 29 May 1997 00:00:00 +0530 Wed, 29 Feb 2012 13:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104517 In winding-up proceedings, personal liability of directors may arise where misapplication of assets, breach of duty, negligence, non-cooperation, or inaction causes company assets or debts to become irrecoverable, and liability may also follow for unsupported expenditure. The discussion notes that time-barred recoveries, failure to supply correct addresses to the official liquidator, and absence of vouchers can support a finding of misfeasance and breach of duty if unrebutted by evidence. It also states that personal liability cannot be imposed without proof that a person was in fact a director during the relevant period. Case-Laws Companies Law Thu, 29 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104517