https://www.taxtmi.com/caselaws?id=274982 The tribunal vacated restraint orders against respondents without incriminating material and modified orders for others, allowing limited financial withdrawals. The judgment emphasized not burdening innocent individuals during the fraud investigation. Non-executive independent directors were not held liable without prima facie proof of involvement. The case focused on fraud allegations against the Gitanjali group of companies, with specific judgments vacating orders based on lack of evidence or resignation from implicated companies. Application of Section 221 of the Companies Act, 2013 was discussed to aid investigations and prevent asset dissipation. en-us Mon, 02 Apr 2018 00:00:00 +0530 Wed, 12 Sep 2018 19:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274982 The tribunal vacated restraint orders against respondents without incriminating material and modified orders for others, allowing limited financial withdrawals. The judgment emphasized not burdening innocent individuals during the fraud investigation. Non-executive independent directors were not held liable without prima facie proof of involvement. The case focused on fraud allegations against the Gitanjali group of companies, with specific judgments vacating orders based on lack of evidence or resignation from implicated companies. Application of Section 221 of the Companies Act, 2013 was discussed to aid investigations and prevent asset dissipation. Case-Laws Companies Law Mon, 02 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274982