https://www.taxtmi.com/caselaws?id=790772 A former director could not be prosecuted under the Companies Act, 2013 where the complaint contained no specific allegation of his role in the alleged fraud or false statement, and merely relied on his past office. The court noted that he had ceased to be a director before commercial operations began and that two investigating agencies had already found no incriminating material against him. On that basis, the criminal proceedings under Sections 447 and 448 were quashed. As the look out circular rested entirely on those proceedings, it also lost its foundation and was quashed as a consequential measure. en-us Sat, 25 Apr 2026 00:00:00 +0530 Wed, 29 Apr 2026 14:47:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790772 A former director could not be prosecuted under the Companies Act, 2013 where the complaint contained no specific allegation of his role in the alleged fraud or false statement, and merely relied on his past office. The court noted that he had ceased to be a director before commercial operations began and that two investigating agencies had already found no incriminating material against him. On that basis, the criminal proceedings under Sections 447 and 448 were quashed. As the look out circular rested entirely on those proceedings, it also lost its foundation and was quashed as a consequential measure. Case-Laws Companies Law Sat, 25 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790772