2020 (1) TMI 1667 - SCH - SEBI

Issue of the Non-Convertible Debentures (NCDs) without complying with the listing provisions - Liability of directors - 'officer in default' - As decided by tribunal in the absence of any document to show that any director was specified as per Clauses (a) to (c) of Section 5 of the Companies Act or any valid document to show that any person was authorized by the Board of Directors, the appellant cannot escape the liability as per Clause (g) of Section 5 of the Companies Act - HELD THAT - We find no ground to interfere with the impugned order(s) passed by the Tribunal. These appeals are, accordingly, dismissed. Pending application(s), if any, shall stand disposed of.

Summary

The Supreme Court dismissed the appeals as there were no grounds to interfere with the impugned order(s) passed by the Tribunal. Pending applications, if any, shall stand disposed of. (Case: 2020 (1) TMI 1667 - SC Order)