Dishonor of Cheque - vicarious liability - Complaint against the ...

CEO Cleared of Cheque Dishonor Charges Due to Resignation Before Issuance Date, Not Liable u/s 141.

November 16, 2020

Case Laws Indian Laws HC

Dishonor of Cheque - vicarious liability - Complaint against the CEO (Petitioner) - the Petitioner had resigned on 15.06.2016 and was no longer responsible for the conduct of business of Accused No. 1 Company, on the date of the commission of the alleged offence, she cannot be arrayed as an Accused in the proceedings emanating out of the complaint referred to above. Form No. DIR-11 clearly evidences the resignation of the Petitioner on 15.06.2016 and the cheque in question is admittedly issued on 28.10.2016, which is post her resignation. It cannot therefore be said that the Petitioner was in-charge of and responsible for the conduct of day to day business/affairs of the Company, as contemplated in Section 141 of the NIA for being proceeded against - HC

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Dishonor of Cheque - vicarious liability - Complaint against the ...

CEO Cleared of Cheque Dishonor Charges Due to Resignation Before Issuance Date, Not Liable u/s 141.

November 16, 2020

Case Laws Indian Laws HC

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