https://www.taxtmi.com/caselaws?id=110540 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 does not protect liabilities incurred by directors in their personal capacity, even if the same transaction also binds the sick company. Where the pronote recitals show joint and several responsibility and borrowing for individual benefit as well as on behalf of the company, the statutory bar is unavailable. On that basis, the attachment before judgment was treated as legally justified and the challenge failed. en-us Mon, 16 Aug 2004 00:00:00 +0530 Tue, 17 Apr 2012 13:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110540 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 does not protect liabilities incurred by directors in their personal capacity, even if the same transaction also binds the sick company. Where the pronote recitals show joint and several responsibility and borrowing for individual benefit as well as on behalf of the company, the statutory bar is unavailable. On that basis, the attachment before judgment was treated as legally justified and the challenge failed. Case-Laws Companies Law Mon, 16 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110540