https://www.taxtmi.com/caselaws?id=406634 The court quashed the Look Out Circular (LOC) issued against the Petitioner, a former Non-Executive Independent Director, citing procedural lapses as the LOC lacked specificity. The Petitioner's involvement in the alleged fraud was under investigation, and interim relief from the LOC was granted with conditions such as reporting to the Indian Embassy, filing undertakings, and restrictions on property transfer. The order was specific to the Petitioner and not applicable to other Directors. Further proceedings include filing affidavits and a hearing scheduled for 13th August 2021. en-us Mon, 12 Apr 2021 00:00:00 +0530 Mon, 19 Apr 2021 20:34:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406634 The court quashed the Look Out Circular (LOC) issued against the Petitioner, a former Non-Executive Independent Director, citing procedural lapses as the LOC lacked specificity. The Petitioner's involvement in the alleged fraud was under investigation, and interim relief from the LOC was granted with conditions such as reporting to the Indian Embassy, filing undertakings, and restrictions on property transfer. The order was specific to the Petitioner and not applicable to other Directors. Further proceedings include filing affidavits and a hearing scheduled for 13th August 2021. Case-Laws Companies Law Mon, 12 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406634