Non-executive director's vicarious liability in a company u/s ...

Company Director not liable for bounced cheque unless actively involved in transaction.

Case Laws Indian Laws

September 23, 2024

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.

View Source

← Previous Next →

Non-executive director's vicarious liability in a company u/s ...

Company Director not liable for bounced cheque unless actively involved in transaction.

Case Laws Indian Laws

September 23, 2024

You may also like:

Dishonor of Cheque - Vicarious liability of Director - The primary liability in a cheque bounce case where cheque has been issued on behalf of the company is upon the...

The case involves an offence under FEMA with regard to the business conduct of a company. The liability of a director for contravention of provisions depends on their...

Dishonor of Cheque - vicarious liability of Directors in the company - There is no specific averment in the complaint to the effect that the petitioners who are all the...

Dishonour of Cheque - acquittal of the accused - The petitioner as director of the company was the person who issued the cheque in this case and the transaction was...

Dishonor of Cheque - vicarious liability of an independent director - In absence of any specific averments or allegations carving out a specific role attributable to...

Liability of one of an independent Director of a Company under Section 141 of N.I. Act for the dishonour of the cheque issued by the original accused on behalf of the...

Rent paid by director of the company in her individual capacity - directors serve as agents - any transaction carried out by the directors on behalf of the company is a...

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...

Dishonour of cheque - vicarious liability in criminal law - The SC interpreted Section 7 of the NI Act to identify the "drawer" as the individual issuing the cheque,...

Dishonor of Cheque - framing of charges against the Directors - vicarious liability - only directors of company is made the accused, leaving the company - commission of...

- Dishonor of Cheque - vicarious liability of Director - The Petitioner resigned from the Company on 05.02.2016. Therefore, as per the details regarding the Directors of...

Dishonor of Cheque - liability of a Director of a company - vicarious liability - It is clear from the perusal of the complaint that there is no specific averment that...

Dishonour of Cheque - interference with the order of acquittal of the accused - If the Managing Director or Joint Director of the company takes personal responsibility...

Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

Dishonor of Cheque - vicarious liability - Whether the company is not functioning from January 2014 and the petitioner were not directors in the company at that point of...

Quick Updates: