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Dishonour of Cheque - Liability of a Director - principles of vicarious liability - petitioner had already resigned on 15.03.2014 as Director of the Company and was neither signatory of the cheques, nor Managing Director of the Company - Section 141 of NI Act - The court scrutinized the timing and validity of a clarificatory certificate issued by a Chartered Accountant regarding the petitioner's status as a non-executive director, highlighting its submission subsequent to the initiation of legal proceedings. Ultimately, the court dismissed the petitions, imposing costs on the petitioner.
Dishonour of Cheque - Liability of a Director - principles of vicarious liability - petitioner had already resigned on 15.03.2014 as Director of the Company and was neither signatory of the cheques, nor Managing Director of the Company - Section 141 of NI Act - The court scrutinized the timing and validity of a clarificatory certificate issued by a Chartered Accountant regarding the petitioner's status as a non-executive director, highlighting its submission subsequent to the initiation of legal proceedings. Ultimately, the court dismissed the petitions, imposing costs on the petitioner.
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