Hello professionals
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?
liable
vicariously
director
executive
