No Proof of Resignation: Delhi HC Reduces Fine to ₹1L for Former Company Directors over Non-Filing...

The Delhi High Court has reduced a fine to ₹1 lakh for former company directors over the non-filing of financial documents, despite "no proof of resignation." The directors were penalized for failing to comply with statutory requirements to file financial statements and annual returns. While acknowledging the default and the lack of concrete evidence of their resignation during the period of default, the court decided to reduce the initial fine (from ₹1.5 lakh per director) to ₹1 lakh each, indicating a degree of leniency while still upholding the principle of accountability for corporate governance lapses.