https://www.taxtmi.com/caselaws?id=431381 The National Company Law Appellate Tribunal in Chennai upheld the decision of the National Company Law Tribunal in Kochi, holding directors personally liable for fraudulent transactions. The directors were directed to compensate creditors of the Corporate Debtor for losses due to fraudulent actions, with a specified amount plus interest to be paid within six weeks. The appeal was dismissed, confirming the directors' personal liability for fraudulent activities as per Section 66(1) of the I&B Code, 2016. en-us Mon, 05 Dec 2022 00:00:00 +0530 Mon, 12 Dec 2022 10:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431381 The National Company Law Appellate Tribunal in Chennai upheld the decision of the National Company Law Tribunal in Kochi, holding directors personally liable for fraudulent transactions. The directors were directed to compensate creditors of the Corporate Debtor for losses due to fraudulent actions, with a specified amount plus interest to be paid within six weeks. The appeal was dismissed, confirming the directors' personal liability for fraudulent activities as per Section 66(1) of the I&B Code, 2016. Case-Laws Insolvency and Bankruptcy Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431381