Negotiable Instruments Act, 1881, Section 141(2) -- Vicarious liability - Officer of a company - Not liable to be prosecuted by virtue of his office - Can be prosecuted only u/s 141(2) of the Act - Mechanical reproduction of S.141(1) is not sufficient - It is required that there should be necessary averments in the complaint as to how and in what manner the accused was..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Director or officer of company signatory of cheque - Can be prosecuted even in absence of an averment that they are in charge of and responsible for the conduct of business of the company...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Prosecution of Director of a company - Complaint to state how a Director who is sought to be made an accused, was in charge of the business of the company - In case of non director officers there is all the more need to state what his part is with regard to conduct of business of the company and how and in..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Managing Director/Joint Managing Director by virtue of their office are in charge of and responsible for the conduct of business of the company - They are liable even in absence of a specific averment against them - In case of director or an officer of company who signed the cheque on behalf of company they..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Prosecution of Deputy General Manager - He is not responsible to the company for the conduct of the business of the company - He cannot be made vicariously liable u/s 141(1) of the Act - For making him liable u/s 141(2) the necessary averments are required to be made...........
