Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Offence by Company - Plea of being nominee Directors and non executive Directors of Company - Petitioners whether incharge of the conduct of business or involved in the day to day affairs of the company is a matter of trial - No ground to quash proceedings...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - Demand notice - Service of notice - If a drawer of cheque is a Company or partnership firm, notice should be served on Company in writing as mandated u/s 138(b) of the Act - Proof of that service can be only acknowledgement of serving the notice on representative of company is..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Quashing of proceedings - Petitioners are admittedly partners in a partnership Firm - Claim of petitioners are that loan is time barred - Whether loan was already time barred or whether loan was subsequently acknowledged can be decided only after trial and whether the..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Accused had issued cheques on behalf of company and company has not denied this fact - Company cannot be absolved of its liability and should be prosecuted in the criminal case along with responsible office bearers...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by company - Commercial Manager - No specific role assigned to him - Rather some other co-accused were holding the post of Managing director, Executive Director etc. - Criminal prosecution of petitioner would be an abuse of process of law - Summoning order qua petitioner quashed...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Trust - Trust being an association of persons would be company in terms of S.141 of the Act - Cheque was issued by or on behalf of Trust - Trust is therefore, principal offender - All the persons who are officer bearers of Trust being incharge of day-to-day affairs of Trust, shall also be liable..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Dishonour of cheque - Offence by Company - During pendency of proceedings Company was dissolved - Signatories/directors cannot escape from their penal liability u/s 138 of the Act by citing its dissolution - What is dissolved is only company, not personal penal liability of accused covered u/s 141 of the Act...........
Negotiable Instruments Act, 1881, Section 138, 141, Insolvency and Bankruptcy Code, 2016, Section 31, 32 -- Dishonour of cheque - Offence by Company - Proceedings under Insolvency Code - (a) After passing of the resolution plan u/s 31 of the IBC by the adjudicating authority & in the light of the provisions of S.32A of the IBC, the criminal proceedings u/s 138 of the NI..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Complaint filed by `special attorney' appointed by Power of Attorney holder - Power of attorney holder cannot delegate his powers to another person but the same can be delegated when there is a specific clause permitting sub-delegation - In the instant case company appointed power of attorney..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Company - Power of attorney holder - Having personal knowledge of the transactions - He has the capacity to depose...........
