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    Non executive director can be vicariously liable

    Posted By : mahimajain / Published on : 11-Oct-2022 04:25 AM / View : 159 / Comment : 0

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    A company for the financial year 2008-09 declared the dividend on 19th sep.2009 and fail to distribute the same within the prescribed period.A non executive director who was resigned on July 2009 was also implicated in a court of law along with the company and other directors.The que. is whether a resigned non executive director can be vicariously liable for the failure on the part of the company to declare dividend?

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