https://www.taxtmi.com/caselaws?id=293905 The court held that directors of a company cannot be held personally liable for the company's debts in an execution proceeding unless there is evidence of fraud, improper conduct, or an agreement to be personally liable. It clarified that directions under Order XXI Rule 41 should be limited to the assets of the judgment-debtor or officers of a corporation, not personal assets of directors. The judgment emphasized the separate legal identity of a company from its directors and shareholders, setting aside the order to disclose personal assets of directors in the decree execution process. en-us Thu, 03 Aug 2017 00:00:00 +0530 Mon, 08 Mar 2021 19:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293905 The court held that directors of a company cannot be held personally liable for the company's debts in an execution proceeding unless there is evidence of fraud, improper conduct, or an agreement to be personally liable. It clarified that directions under Order XXI Rule 41 should be limited to the assets of the judgment-debtor or officers of a corporation, not personal assets of directors. The judgment emphasized the separate legal identity of a company from its directors and shareholders, setting aside the order to disclose personal assets of directors in the decree execution process. Case-Laws Indian Laws Thu, 03 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293905