https://www.taxtmi.com/caselaws?id=282522 The Directors of a company in liquidation, appointed by financial institutions, were granted immunity from prosecution for failure to file statements of affairs, maintain statutory registers, and hand over books of accounts. The Court held that these Directors were not liable for routine management tasks but were responsible for safeguarding the financial institution's interests. As such, their conviction and sentencing under relevant sections of the Companies Act were deemed unauthorized, leading to the appeals being allowed and the impugned orders set aside. en-us Fri, 02 Jan 2009 00:00:00 +0530 Mon, 12 Aug 2019 11:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282522 The Directors of a company in liquidation, appointed by financial institutions, were granted immunity from prosecution for failure to file statements of affairs, maintain statutory registers, and hand over books of accounts. The Court held that these Directors were not liable for routine management tasks but were responsible for safeguarding the financial institution's interests. As such, their conviction and sentencing under relevant sections of the Companies Act were deemed unauthorized, leading to the appeals being allowed and the impugned orders set aside. Case-Laws Companies Law Fri, 02 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282522