Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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Vicarious liability of directors for cheque dishonour under Section 141 of the Negotiable Instruments Act requires specific averments showing how and in what manner each director was in charge of, and responsible for, the company's business. A general statement that all directors managed daily affairs is insufficient, particularly where the complaint neither assigns an individual role nor identifies the cheque signatory. The notes state that absent these foundational allegations, proceedings against a non-signatory director amount to abuse of process and may be quashed insofar as that director is concerned.
Vicarious liability of directors for cheque dishonour under Section 141 of the Negotiable Instruments Act requires specific averments showing how and in what manner each director was in charge of, and responsible for, the company's business. A general statement that all directors managed daily affairs is insufficient, particularly where the complaint neither assigns an individual role nor identifies the cheque signatory. The notes state that absent these foundational allegations, proceedings against a non-signatory director amount to abuse of process and may be quashed insofar as that director is concerned.
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