Legal Articles Are shadow directors liable for insolvency procedures? January 3, 2022 by Lavanya Goinka | Leave a Comment The directors of a corporation are critical to the company’s day-to-day operations. As a result, they owe the corporation certain fiduciary duties and are accountable to all stakeholders. These responsibilities have been established in India under Section 166 of the Companies Act of 2013. Acting in good faith, exercising reasonable care, skill, and diligence, exercising […] Read more » Are shadow directors liable for insolvency procedures Legal position of a shadow director Liability for fraudulent trading Liability for wrongful trading Liability of shadow directors for insolvency procedures Meaning of a Shadow Director Prioritising creditors’ interests Steps that can be taken to mitigate liability
