https://www.taxtmi.com/circulars?id=10470 Penal proceedings under the Companies Act should target those legally designated as officer in default or otherwise liable; nominee, independent, government or institution nominated directors are not to be held liable for company breaches occurring without their knowledge attributable through Board process or without their consent or connivance, or where they acted diligently. Registrars must verify resignations, nominee status in company filings, timing of offences, and any Board allocations of responsibility, consult registry records, avoid wrongful prosecution, and refer doubtful cases to Regional Directors for guidance and review of pending matters. en-us Fri, 25 Mar 2011 00:00:00 +0530 Tue, 14 Jun 2011 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10470 Penal proceedings under the Companies Act should target those legally designated as officer in default or otherwise liable; nominee, independent, government or institution nominated directors are not to be held liable for company breaches occurring without their knowledge attributable through Board process or without their consent or connivance, or where they acted diligently. Registrars must verify resignations, nominee status in company filings, timing of offences, and any Board allocations of responsibility, consult registry records, avoid wrongful prosecution, and refer doubtful cases to Regional Directors for guidance and review of pending matters. Circulars Companies Law Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10470