https://www.taxtmi.com/caselaws?id=293048 The Tribunal overturned the order holding the company's scheme as a Collective Investment Scheme (CIS) and restricting its activities. The appellant, an independent director, was found not liable for misfeasance due to limited involvement and lack of negligence. The Tribunal emphasized the director's duty to oversee diligently and ruled in favor of the appellant, quashing the liability order. en-us Fri, 07 Feb 2020 00:00:00 +0530 Wed, 20 Jan 2021 13:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293048 The Tribunal overturned the order holding the company's scheme as a Collective Investment Scheme (CIS) and restricting its activities. The appellant, an independent director, was found not liable for misfeasance due to limited involvement and lack of negligence. The Tribunal emphasized the director's duty to oversee diligently and ruled in favor of the appellant, quashing the liability order. Case-Laws SEBI Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293048