Description:
MCA has recently issued guidelines regarding prosecution of directors for committing defaults under Companies Act, 1956. This article, in that view deals with prosecution of directors (including non executive directors, independent directors, nominee directors) and further takes up the issue as to when they are liable to be prosecuted.
Source:
1. www.tpcc.in
2. The Tax Referencer .Volume121. Issue No.4, 26 Sept.2011, Page No.123.
Our Comment:
There are some conditions to make all the directors liable for prosecution. Every Director need not be prosecuted.
There are some conditions to make all the directors liable for prosecution. Every Director need not be prosecuted.
