If an Indian law provides that if a company is held liable every person responsible to the company for its management will be held liable (those who showed negligence and or were involved ) and that the payment shall be collected as arrears of land revenue who is liable ? I mean if a law provides being that the maximum punishment is 20 crore rupees . Now the net worth of the individuals running it and the company is 15 crore . How will it be collected ? Is everyone liable to pay 20t rupeesm ? Will bankruptcy help ?