Liability under_____ sec. may be imposed only if it is proved that the companies business has been carried on with a view to defraud the creditors

Question

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Section 542 of the Companies Act deals with liability when the business of a company has been carried on with intent to defraud creditors. This section specifically addresses the conditions under which persons involved can be held responsible for the company's fraudulent activities aimed at deceiving its creditors.

Liability Under_____ Sec