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        Indian Laws

        Dishonor of Cheque - vicarious liability of Independent...

        Independent Directors Not Liable for Cheque Dishonor Without Specific Role u/s 141(1.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Dishonor of Cheque - vicarious liability of Independent Directors / company secretary - The complaisant does not particularize the role of the petitioner in regard to facility agreement dated 28th March, 2010 executed by the Company with the complainant; nor the complaint discloses that the alleged offence was committed by the Company in connivance or was a result of the negligence of the petitioner - In absence of averments in the complaint, that petitioner is also “in charge” of the business of the company, the case could not fall under Section 141(1) of the Act. - HC
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