Case Law Analysis
|Bombay High Court
MPID & BUDS Acts | Director Liability Ceases Post-Resignation Absent Personal Misappropriation: Bombay HC Grants Bail
Bombay High Court rules that former directors cannot be held liable under the MPID and BUDS Acts for company misconduct post-resignation unless personal misappropriation is proven. The judgment clarifies the limited scope of director liability in financial offences, offering critical protection for ex-directors facing criminal charges.