Dishonor of Cheque - vicarious liability of Directors, who are ...

Case Laws     Indian Laws

October 11, 2021

Dishonor of Cheque - vicarious liability of Directors, who are not signatories to the cheques - the allegations in the complaint are that at the time at which the cheques were issued by the Company and dishonoured by the Bank, the appellants were the Directors of the Company and were responsible for its business and all the appellants were involved in the business of the Company and were responsible for all the affairs of the Company. It may not be proper to split while reading the complaint so as to come to a conclusion that the allegations as a whole are not sufficient to fulfil the requirement of Section 141 of the NI Act. - Proceedings to continue against the Directors - SC

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