https://www.taxtmi.com/caselaws?id=777698 Officers of a company cannot be prosecuted for offences under the Indian Penal Code on a theory of vicarious liability unless a statute specifically creates such liability and the company itself is arraigned as an accused. Bare assertions based on designation, without concrete material showing individual participation, authorization, or culpability, are insufficient to sustain criminal process. The acts complained of were also treated as bona fide steps taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and therefore protected by Section 32 as acts done in good faith in discharge of statutory duties. The criminal proceedings were quashed as unsustainable. en-us Thu, 28 Aug 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777698 Officers of a company cannot be prosecuted for offences under the Indian Penal Code on a theory of vicarious liability unless a statute specifically creates such liability and the company itself is arraigned as an accused. Bare assertions based on designation, without concrete material showing individual participation, authorization, or culpability, are insufficient to sustain criminal process. The acts complained of were also treated as bona fide steps taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and therefore protected by Section 32 as acts done in good faith in discharge of statutory duties. The criminal proceedings were quashed as unsustainable. Case-Laws Indian Laws Thu, 28 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777698