Negotiable Instruments Act, 1881, Section 138 -- Cheque dishonoured for the reason that it does not bear the signature of Managing Director in addition to Finance Manager of the Company and that it does not bear the seal of the Company - No case is made out for offence - Proceedings quashed...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Notice - Notice issued in name of Director who signed cheque - Notice proper - Notice cannot be construed in a narrow technical way without examining substance of matter - Prosecution proceedings cannot be quashed on the ground that notice was not served on Company...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Director - Retired Director who did not function as Director either on date of cheque or when cause of action arose for non payment cannot be prosecuted...........
Negotiable Instruments Act, 1881, Section 138 -- Director of Company who issued cheque resigned - Not a ground to quash complaint against him - The liability under the provision arises against a person who signs or issues the cheque which is subsequently dishonoured - Veracity of the averment will depend on the evidence produced at the trial...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Cheque - Dishonoured - Cheque issued by Company and signed by one `D' its Managing Director - `D' sought to be prosecuted in his personal capacity - No allegation in the complaint that the offence was committed by the company and that `D' is sought to be prosecuted by virtue of the provision u/s 141 of the Act in his..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Complaint filed against Company, Managing Director, Two Executive Directors and one Director - Petitioner alleged to have resigned from post of Director even before issuance of cheque - However, complaint states that Managing Director, Two Executive Directors and one Director are in-charge of and..........
Negotiable Instruments Act, 1881, Section 141, 138, Companies Act, 1956, Section 446 -- Company - Under liquidation and Official Liquidator appointed - Cheque issued by Company and signed by Managing Director - No claim made against assets of the company - Criminal proceedings cannot be stayed under S.446 of the Companies Act - S.446 of the Companies Act is not attracted..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Dishonour of cheque - Vicarious liability - Complaint against Company, its Chairman, Managing Director, nine Directors and three officers of the Company - Complaint against Chairman and others quashed - Nothing on record to show that there was any act committed by them to draw the inference that they were..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Cheque issued by firm `M/s Oswal Cotton Company' - Petitioner was former Managing Director of `M/s K.P.V.Yarns Limited' - Both the firms alleged to have business relations and cheque alleged to be issued by Oswal Company on behalf of K.P.V Yarns Limited - Section imposes a criminal liability of a person..........
Negotiable Instruments Act, 1881, Section 138 -- Cheque drawn by company - No notice as required given to company - Notice given to Director of the Company - Complaint under section 138 against company is not maintainable - However, it cannot be said that as complaint against company for want of notice is not maintainable as such complaint against Director is also not..........
