Reimbursement of the expenses to managing director, etc., in connection with criminal cases instituted against them from funds of companies ‑ Whether permissible

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s to managing director, etc., in connection with criminal cases instituted against them from funds of companies ‑ Whether permissible It has been brought to the notice of the Department that companies sometimes place funds at the disposal of their managerial personnel for defending themselves in criminal proceedings instituted against them. In this connection a reference is invited to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... whether civil or criminal, in which judgment is given in his favour or in which he is acquitted or discharged or in connection with any application under section 633 of the Act in which relief is granted to him by the court. Thus, it is not permitted to a company to make its funds available to the managing directors, etc., in connection with any civil or criminal case instituted against them unles .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X