Court Rules on Cheque Dishonor: Directors and Non-Directors Held Liable Under Negotiable Instruments Act.

Dishonour of Cheque - mentioning the petitioners in CRR 196 of 2016 as ‘non-directors’ and in CRR 197 of 2016 as ‘directors’ - High Court held that, at the relevant point of time, excepting the present petitioners, there were no other ‘directors’ or ‘nondirectors’, in the said company and also that the concerned cheques were issued by them. Considering the attending facts and circumstances as discussed above and the object and purpose of the statute itself as delineated above, this Court hardly finds any impropriety in the orders regarding taking cognizance of offence u/s 138 and 141 of the Negotiable Instruments Act. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X