Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
Vicarious criminal liability of a non-signatory director for cheque dishonour requires specific allegations that, at the relevant time, the director was both in charge of and responsible for the company's business. Directorship alone does not establish liability. A complaint must disclose the director's role in day-to-day operations or financial transactions, or facts showing consent, connivance or neglect connected with the dishonoured cheque. Where the director was neither a party to the underlying agreement nor a cheque signatory and the complaint contains only general allegations, prosecution for cheque dishonour read with vicarious liability provisions cannot continue; the complaints and process were quashed against the director.
Vicarious criminal liability of a non-signatory director for cheque dishonour requires specific allegations that, at the relevant time, the director was both in charge of and responsible for the company's business. Directorship alone does not establish liability. A complaint must disclose the director's role in day-to-day operations or financial transactions, or facts showing consent, connivance or neglect connected with the dishonoured cheque. Where the director was neither a party to the underlying agreement nor a cheque signatory and the complaint contains only general allegations, prosecution for cheque dishonour read with vicarious liability provisions cannot continue; the complaints and process were quashed against the director.
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