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of <h1>Liability Under Section 141 of Negotiable Instruments Act: Directors and Officers Accountable for Company Cheque Dishonor.</h1> Section 141 of the Negotiable Instruments Act, 1881, addresses offences by companies concerning the dishonor of cheques due to insufficient funds. If a company commits such an offence, every person responsible for the company's business conduct at the time is deemed guilty and liable for punishment, unless they prove lack of knowledge or due diligence. Directors nominated by government entities are exempt from prosecution. Additionally, if the offence is committed with the consent or due to the neglect of any company officer, they are also deemed guilty. The section defines 'company' to include corporate bodies, firms, and associations, with 'director' referring to a partner in a firm.
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