A notice from the SFIO, the Registrar of Companies (ROC), the Enforcement Directorate (ED), or the police raises one immediate question: am I personally liable? It’s one of the most common questions a white-collar crime lawyer in India hears from directors, promoters, and senior management. A company is a separate legal entity. But courts and regulators can still prosecute individual directors when the evidence points to personal wrongdoing. This guide covers when directors face prosecution for company fraud, the laws that apply, what “officer in default” means, how company liability differs from personal liability, and what to do if you receive a notice or summons.