Court Clears Former Directors of Liability for 2014 Financial Reporting Defaults After Resignations in 1995 and 1998.

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....Prosecution proceedings against the Director - Non-submission of financial statement within the stipulated time with registrar of companies - Admittedly, petitioners resigned w.e.f. 19.04.1995 and 05.05.1998. Much thereafter, alleged defaults have been committed. - petitioners made out their case for interference. Once, they resigned in the years 1995 and 1998, then they cannot be fastened with any liability for a period of 2014. - HC....