Section 544 - Liability under sections 542 and 543 to extend to partners or directors in firm or company. - Companies Act, 1956

Liability under sections 542 and 543 to extend to partners or directors in firm or company. 544. Where a declaration under section 542 or an order under section 543 is or may be made in respect of a firm or body corporate, the [1] [Tribunal] shall also have power to make a declaration under section 542, or pass an order under section 543, as the case may be, in respect of any person who was at the relevant time a partner in that firm or a director of that body corporate. ---------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.