https://www.taxtmi.com/caselaws?id=300856 The Tribunal found that the Suspended Board of Directors failed to provide corporate records, violating Section 128(5) of the Companies Act, 2013. Directors Mr. Ashish Chaturvedi and Mr. Sanjay Kapoor were held liable for breaching their duties and were each fined Rs. 5 Lakhs, totaling Rs. 10 Lakhs. They were required to deposit the penalty with the Ministry of Corporate Affairs within four weeks. The Tribunal emphasized the importance of upholding statutory obligations and ensuring compliance with record-keeping requirements. en-us Mon, 09 Nov 2020 00:00:00 +0530 Mon, 28 Feb 2022 20:23:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300856 The Tribunal found that the Suspended Board of Directors failed to provide corporate records, violating Section 128(5) of the Companies Act, 2013. Directors Mr. Ashish Chaturvedi and Mr. Sanjay Kapoor were held liable for breaching their duties and were each fined Rs. 5 Lakhs, totaling Rs. 10 Lakhs. They were required to deposit the penalty with the Ministry of Corporate Affairs within four weeks. The Tribunal emphasized the importance of upholding statutory obligations and ensuring compliance with record-keeping requirements. Case-Laws Insolvency and Bankruptcy Mon, 09 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300856