https://www.taxtmi.com/caselaws?id=291265 The Tribunal ruled that newly appointed directors are immune from civil and criminal actions related to past wrongs by previous management. It replaced the existing management with new directors to prevent further illegalities, emphasizing nominee directors' duty to protect the company's interests. The Tribunal asserted exclusive jurisdiction over the matter, barring civil courts from involvement. It clarified that nominee directors are not personally liable for offenses by former management and should not be involved in ongoing or future cases against the company or its former directors. en-us Wed, 13 Nov 2019 00:00:00 +0530 Tue, 03 Nov 2020 18:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291265 The Tribunal ruled that newly appointed directors are immune from civil and criminal actions related to past wrongs by previous management. It replaced the existing management with new directors to prevent further illegalities, emphasizing nominee directors' duty to protect the company's interests. The Tribunal asserted exclusive jurisdiction over the matter, barring civil courts from involvement. It clarified that nominee directors are not personally liable for offenses by former management and should not be involved in ongoing or future cases against the company or its former directors. Case-Laws Companies Law Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291265