https://www.taxtmi.com/acts?id=26935 Section 89 establishes that where tax, interest or penalty due from a private company cannot be recovered, every person who was a director during that period is jointly and severally liable unless he proves the non-recovery was not due to any gross neglect, misfeasance or breach of duty. Subsection (2) exempts former private-company directors from that joint and several liability where the company converts to a public company and recovery could not be effected before conversion, while preserving liability for any personal penalty imposed on a director. en-us Thu, 22 Jun 2017 14:09:50 +0530 Sat, 01 Jul 2017 12:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26935 Section 89 establishes that where tax, interest or penalty due from a private company cannot be recovered, every person who was a director during that period is jointly and severally liable unless he proves the non-recovery was not due to any gross neglect, misfeasance or breach of duty. Subsection (2) exempts former private-company directors from that joint and several liability where the company converts to a public company and recovery could not be effected before conversion, while preserving liability for any personal penalty imposed on a director. Act-Rules GST - States Thu, 22 Jun 2017 14:09:50 +0530 https://www.taxtmi.com/acts?id=26935