In absence of specific allegations, Directors cannot be prosecuted without arraigning the Company as Accused: SC [Read the Judgment]

Setting aside criminal proceedings against the appellant, a Supreme Court bench comprising of Justice Dipak Misra and Justice A.K. Goel observed that, "When a complainant intends to rope in a Managing Director or any officer of a company, it is essential to make requisite allegation to constitute the vicarious liability." This also makes clear that this dictum is not confined to matters...