https://www.taxtmi.com/caselaws?id=392427 The appeal against the Directors of a company was initially dismissed but later restored for one appellant. The case involved ex-parte interim orders restraining directors from market access due to alleged contravention of various laws. An independent director argued lack of involvement in the company's affairs during the issuance of debentures, with the Tribunal ultimately finding him not liable for refund based on his non-involvement in the decision-making process. The Tribunal emphasized the need for specific findings of involvement or responsibility for liability, quashing the order holding the appellant liable for refund due to lack of evidence of his involvement during the relevant period. en-us Wed, 27 Nov 2019 00:00:00 +0530 Thu, 20 Feb 2020 11:27:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392427 The appeal against the Directors of a company was initially dismissed but later restored for one appellant. The case involved ex-parte interim orders restraining directors from market access due to alleged contravention of various laws. An independent director argued lack of involvement in the company's affairs during the issuance of debentures, with the Tribunal ultimately finding him not liable for refund based on his non-involvement in the decision-making process. The Tribunal emphasized the need for specific findings of involvement or responsibility for liability, quashing the order holding the appellant liable for refund due to lack of evidence of his involvement during the relevant period. Case-Laws SEBI Wed, 27 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392427