Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Directors - Cheques neither issued nor signed by appellants, nor they had any role in their execution - No material on record that they were responsible for issuance of cheques in question - Their involvement in the company's affairs was purely non-executive, confined to..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Director - Petitioner already resigned from the post of Director of company before cheque was dishonoured - He did not have any association with Company since his retirement - No liability therefore can be affixed upon such director - Proceedings qua petitioner quashed...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Directors - Mere designation as a director does not conclusively establish liability u/s 138 r/w S.141 of the Act - Liability is contingent upon specific allegations demonstrating the director's active involvement in the company's affairs at the relevant time...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Directors - Non-executive Directors cannot be held liable u/s 138 of the Act, unless specific evidence proves their active involvement...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Non-executive director - Appellant was neither a signatory to dishonoured cheques nor was he actively involved in the financial decision making of company - Complaint does not contain any specific averments detailing how Appellant was responsible for dishonoured cheques - Role..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Directors - Petitioners are Directors of company - However, cheque was issued under signature of Managing director - Vicarious liability would only be placed on persons who were responsible for conducting day to day business of Company - Since petitioners were never associated..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Director - Director who is in charge of Company and a Director who was responsible to Company for the conduct of business, are two different aspects - Both the ingredients of S.141(1) of the Act must be incorporated in the complaint...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Appellant is not a signatory to the Cheque - It is only the signatory to the cheque who is liable under S.138 of the Act unless case is brought within four corners of S.141 of the Act, no other person can be held liable...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Director - No assertion in the complaint that appellant at the time of commission of offence was in charge of business of Company - Appellant cannot be prosecuted with the aid of S.141(1) of the Act - Order taking cognizance against appellant quashed...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Director - Director who is in charge of Company and a Director who was responsible to Company for the conduct of business, are two different aspects - Both the ingredients of S.141(1) of the Act must be incorporated in the complaint...........
