https://www.taxtmi.com/caselaws?id=104726 Section 58C of the Reserve Bank of India Act, 1934 creates liability for a company's officers where the complaint contains specific averments showing that they were in charge of, and responsible for, the company's business, or that the offence occurred with their consent, connivance, or neglect. At the stage of issuance of process, the court examines only whether the complaint discloses a prima facie basis to bring the officer within that statutory responsibility; detailed proof is reserved for trial. A complaint describing the respondent as Executive Director and referring to active control over finance and accounting functions was sufficient to justify summoning, so refusal to issue process was unsustainable. en-us Mon, 24 Apr 2000 00:00:00 +0530 Thu, 01 Mar 2012 11:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104726 Section 58C of the Reserve Bank of India Act, 1934 creates liability for a company's officers where the complaint contains specific averments showing that they were in charge of, and responsible for, the company's business, or that the offence occurred with their consent, connivance, or neglect. At the stage of issuance of process, the court examines only whether the complaint discloses a prima facie basis to bring the officer within that statutory responsibility; detailed proof is reserved for trial. A complaint describing the respondent as Executive Director and referring to active control over finance and accounting functions was sufficient to justify summoning, so refusal to issue process was unsustainable. Case-Laws Companies Law Mon, 24 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104726