Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Dishonour of Cheque - vicarious liability of directors - After considering the submissions of both parties, the court found that the impugned orders suffered from non-application of mind and lacked sufficient averments to justify the prosecution of the petitioners. It emphasized that liability under Section 141 is not based solely on designation but on the actual role played in the company's affairs. As the complaints failed to provide specific allegations against the petitioners regarding their involvement or negligence, the court held that prosecuting them would amount to an abuse of process.
Dishonour of Cheque - vicarious liability of directors - After considering the submissions of both parties, the court found that the impugned orders suffered from non-application of mind and lacked sufficient averments to justify the prosecution of the petitioners. It emphasized that liability under Section 141 is not based solely on designation but on the actual role played in the company's affairs. As the complaints failed to provide specific allegations against the petitioners regarding their involvement or negligence, the court held that prosecuting them would amount to an abuse of process.
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