Liability of Director of (P) Ltd. Co. on Liquidation
Brief : Case Fact: Whether before initiating recovery action u/s 179 for dues of Pvt. Co against directors on liquidation , it is necessary to prove that recovery cannot be made against the company.
Citation : Indubhai T. Vasa Vs. I.T.O
Decision: Held by hon"ble court that Sec.179 clearly requires that before initiating recovery actions against directors, it is necessary to establish that such recovery could not be made against the company.