https://www.taxtmi.com/caselaws?id=219635 Proceedings under sections 542 and 543 of the Companies Act, 1956 are summary civil claims for compensation for loss caused by breach of trust or misfeasance. The death of a director does not extinguish such liability where the claim can proceed against the estate in the hands of the legal representative, whose exposure is limited to the value of the inherited estate. The earlier deletion of the deceased director's name was considered to have been made without full disclosure of the legal position, so the deletion order was liable to be recalled and the proceedings could continue against the legal representative within that limit. en-us Thu, 11 Oct 2012 00:00:00 +0530 Fri, 21 Dec 2012 07:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219635 Proceedings under sections 542 and 543 of the Companies Act, 1956 are summary civil claims for compensation for loss caused by breach of trust or misfeasance. The death of a director does not extinguish such liability where the claim can proceed against the estate in the hands of the legal representative, whose exposure is limited to the value of the inherited estate. The earlier deletion of the deceased director's name was considered to have been made without full disclosure of the legal position, so the deletion order was liable to be recalled and the proceedings could continue against the legal representative within that limit. Case-Laws Companies Law Thu, 11 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219635