Non-executive director's vicarious liability in a company u/s 138 of the Negotiable Instruments Act...

Non-executive director's vicarious liability in a company u/s 138 of the Negotiable Instruments Act examined. For making a non-executive director liable, there must be specific averments showing their responsibility for company's conduct. Mere designation as director without involvement in transaction is insufficient. Complaint lacking such averments against petitioner non-executive director cannot continue. Petition disposed of. .....

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