https://www.taxtmi.com/caselaws?id=163607 Trade tax dues of a company could not be recovered from the personal assets of its directors, because their liability remained limited under the Companies Act, 1956. A prior departmental decision was treated only as recognising that the State may lodge its claim as a secured creditor in liquidation, not as authority for enforcing company dues against directors personally. In the absence of any allegation of fraudulent diversion of company funds or a personal guarantee by the directors, personal recovery was impermissible. en-us Tue, 13 Feb 2007 00:00:00 +0530 Sat, 05 Apr 2014 12:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163607 Trade tax dues of a company could not be recovered from the personal assets of its directors, because their liability remained limited under the Companies Act, 1956. A prior departmental decision was treated only as recognising that the State may lodge its claim as a secured creditor in liquidation, not as authority for enforcing company dues against directors personally. In the absence of any allegation of fraudulent diversion of company funds or a personal guarantee by the directors, personal recovery was impermissible. Case-Laws VAT and Sales Tax Tue, 13 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163607