https://www.taxtmi.com/caselaws?id=438621 Liability of a company director under section 27 of the SEBI Act requires specific averments showing that the person was in charge of and responsible for the conduct of the company's business at the relevant time, or that the offence occurred with consent, connivance, or neglect. Mere designation as a director is not enough to attract vicarious criminal liability. Where the complaint contains no substantive link between the director and the alleged price manipulation, and the record shows that others handled day-to-day affairs, a summoning order cannot be sustained. en-us Wed, 31 May 2023 00:00:00 +0530 Mon, 05 Jun 2023 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438621 Liability of a company director under section 27 of the SEBI Act requires specific averments showing that the person was in charge of and responsible for the conduct of the company's business at the relevant time, or that the offence occurred with consent, connivance, or neglect. Mere designation as a director is not enough to attract vicarious criminal liability. Where the complaint contains no substantive link between the director and the alleged price manipulation, and the record shows that others handled day-to-day affairs, a summoning order cannot be sustained. Case-Laws SEBI Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438621