Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
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Section 138 applies only to the drawer of the dishonoured cheque, meaning the person who drew and signed it on the relevant account. A joint account holder cannot be prosecuted unless also a signatory, and vicarious liability under Section 141 is confined to companies and similar entities, not private individuals. On that basis, where the cheques were signed only by the co-accused and no specific role was attributed to the applicant beyond joint and several liability, no prima facie case was made out. The complaint and summoning order were quashed only against the applicant; proceedings against the signatory continued.
Section 138 applies only to the drawer of the dishonoured cheque, meaning the person who drew and signed it on the relevant account. A joint account holder cannot be prosecuted unless also a signatory, and vicarious liability under Section 141 is confined to companies and similar entities, not private individuals. On that basis, where the cheques were signed only by the co-accused and no specific role was attributed to the applicant beyond joint and several liability, no prima facie case was made out. The complaint and summoning order were quashed only against the applicant; proceedings against the signatory continued.
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