https://www.taxtmi.com/caselaws?id=442687 Criminal proceedings against directors of associated companies were quashed because the complaint and SFIO material did not contain specific averments showing that they were in charge of, or responsible for, the company's day-to-day affairs. The court found no supporting facts of their direct participation in the alleged diversion of funds, falsification of accounts, cheating, forgery, or criminal breach of trust. Mere relationship with the principal accused or holding positions in other companies was held insufficient to sustain vicarious liability or a prima facie case, and the proceedings were treated as an abuse of process. en-us Wed, 30 Aug 2023 00:00:00 +0530 Thu, 07 Sep 2023 21:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442687 Criminal proceedings against directors of associated companies were quashed because the complaint and SFIO material did not contain specific averments showing that they were in charge of, or responsible for, the company's day-to-day affairs. The court found no supporting facts of their direct participation in the alleged diversion of funds, falsification of accounts, cheating, forgery, or criminal breach of trust. Mere relationship with the principal accused or holding positions in other companies was held insufficient to sustain vicarious liability or a prima facie case, and the proceedings were treated as an abuse of process. Case-Laws Companies Law Wed, 30 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442687