https://www.taxtmi.com/caselaws?id=106233 The court set aside ex parte orders for some parties while holding others liable for misfeasance under section 543 of the Companies Act. Liability was established for time-barred debts due to directorial misconduct, with Vishnu Kumar Pradhan held jointly and severally liable with other directors. Babulal Gupta was found negligent and directed to face appropriate action. The judgment emphasized directorial liability irrespective of shareholding or direct management involvement. The court executed the liability order, concluding the case by enforcing accountability for misfeasance and highlighting the legal obligations and consequences associated with corporate governance. en-us Fri, 26 Aug 1994 00:00:00 +0530 Tue, 13 Mar 2012 13:18:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106233 The court set aside ex parte orders for some parties while holding others liable for misfeasance under section 543 of the Companies Act. Liability was established for time-barred debts due to directorial misconduct, with Vishnu Kumar Pradhan held jointly and severally liable with other directors. Babulal Gupta was found negligent and directed to face appropriate action. The judgment emphasized directorial liability irrespective of shareholding or direct management involvement. The court executed the liability order, concluding the case by enforcing accountability for misfeasance and highlighting the legal obligations and consequences associated with corporate governance. Case-Laws Companies Law Fri, 26 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106233