Dishonor of Cheque - vicarious liability of Independent ...

Independent Directors Not Liable for Cheque Dishonor Without Specific Role u/s 141(1.

October 4, 2021

Case Laws Indian Laws HC

Dishonor of Cheque - vicarious liability of Independent Directors / company secretary - The complaisant does not particularize the role of the petitioner in regard to facility agreement dated 28th March, 2010 executed by the Company with the complainant; nor the complaint discloses that the alleged offence was committed by the Company in connivance or was a result of the negligence of the petitioner - In absence of averments in the complaint, that petitioner is also “in charge” of the business of the company, the case could not fall under Section 141(1) of the Act. - HC

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Dishonor of Cheque - vicarious liability of Independent ...

Independent Directors Not Liable for Cheque Dishonor Without Specific Role u/s 141(1.

October 4, 2021

Case Laws Indian Laws HC

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