2022 (8) TMI 1330

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..... ey were not functional directors at the time of issuance of cheque - HELD THAT:- It is apparent that when the complaint was filed, the petitioner was not the Director of the accused no. 1 as named in the original complaint and he had already resigned on 23.07.2011. Petition allowed.
HON'BLE MR. JUSTICE SUDHIR KUMAR JAIN For the Petitioner : Mr. Sanjay Relan and Mr. Sushant Dahiya, Advocate .....

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..... outstanding liabilities issued 16 cheques total amounting to Rs.106,77,37,316.50/- (rupees one hundred and six crore, seventy seven lacs, thirty seven thousand, three hundred sixteen and fifty paise only) to be drawn on Central Bank of India, Morena, MP and when the said cheques were presented for encashment, they were returned back unpaid on the ground of insufficient fund. Thereafter, the respon .....

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..... 09.2011 to reflect that the petitioner has resigned as Director w.e.f. 23.07.2011 due to vacation of office as per section 167 of the Companies Act. He further relied upon the judgments titled as Harshendra Kumar D. M/s PEC Ltd. V. M/s Oil Ltd. & Ors. V. Rebatilata Koley And Others (2011) 3 SCC 351 and Dharna Goyal @ Dharna Garg V. M/s Aryan Infratech Pvt. Ltd in CRL.M.C 708/2020. 5. The counsel .....

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