Crackdown in offing against Directors of Nirav Modi companies
Independent directors are rarely held liable in cases of corporate frauds. In one such case, the National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed an appeal by the former independent directors on the board of companies of billionaire jewellery designer Nirav Modi against freezing of assets by the government.
The independent directors on the Modi firms included India Inc’s high profile executives. Image source: Facebook