https://www.taxtmi.com/caselaws?id=213783 Misfeasance liability against directors requires specific pleadings and proof of the particular acts or omissions causing loss; general allegations or a mere repetition of the auditor's report are insufficient. A former non-executive director was not fastened with liability where no material showed his participation in misappropriation or misapplication of company assets. The broader claims against the remaining directors also failed for want of particulars, including the sales tax head. Liability was sustained only for unexplained provident fund and allied employee dues collected by the company, because such monies were not available for company use and non-remittance justified an inference of misappropriation. en-us Fri, 19 Aug 2011 00:00:00 +0530 Fri, 08 Feb 2013 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213783 Misfeasance liability against directors requires specific pleadings and proof of the particular acts or omissions causing loss; general allegations or a mere repetition of the auditor's report are insufficient. A former non-executive director was not fastened with liability where no material showed his participation in misappropriation or misapplication of company assets. The broader claims against the remaining directors also failed for want of particulars, including the sales tax head. Liability was sustained only for unexplained provident fund and allied employee dues collected by the company, because such monies were not available for company use and non-remittance justified an inference of misappropriation. Case-Laws Companies Law Fri, 19 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213783