https://www.taxtmi.com/caselaws?id=193781 Vicarious liability for foreign exchange contraventions cannot be fastened on company directors merely because of their office; the enforcing authority must plead and prove specific facts showing that the directors were in charge of and responsible for the company's business when the contravention occurred. On the record, there was no reliable evidence that the respondents participated in day-to-day affairs during the relevant period, and the distinction between executive control and non-executive directorship supported that result. Liability therefore could not be inferred from directorship alone, and the order declining to impose liability on the respondent directors was left undisturbed. en-us Fri, 09 Sep 2016 00:00:00 +0530 Sat, 19 Aug 2017 08:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193781 Vicarious liability for foreign exchange contraventions cannot be fastened on company directors merely because of their office; the enforcing authority must plead and prove specific facts showing that the directors were in charge of and responsible for the company's business when the contravention occurred. On the record, there was no reliable evidence that the respondents participated in day-to-day affairs during the relevant period, and the distinction between executive control and non-executive directorship supported that result. Liability therefore could not be inferred from directorship alone, and the order declining to impose liability on the respondent directors was left undisturbed. Case-Laws FEMA Fri, 09 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193781