High Court Clears Nominee Directors of EPCG Scheme Liabilities for Pre-Appointment Non-Compliance and Offenses.

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....Liability of nominee directors for offence / non compliance committed prior to their appointment - EPCG Scheme - non-fulfilment of export obligation - at the time when such nominee directors were appointed such obligations would not have been at the forefront and there is no justification in expecting the newly appointed directors to apply their minds to the obligations that had crystallized long prior to their appointment and previously in time. - Orders quashed - HC....