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The HC held that the non-prosecution of the company from whose account the dishonored cheque was issued is a fatal, non-curable illegality, leading to dismissal of the complaint u/s 138 of the NI Act. The prosecution requires the company to be named as an accused, and directors/officers can only be held vicariously liable if the company is prosecuted. Consequently, the petition was allowed.
The HC held that the non-prosecution of the company from whose account the dishonored cheque was issued is a fatal, non-curable illegality, leading to dismissal of the complaint u/s 138 of the NI Act. The prosecution requires the company to be named as an accused, and directors/officers can only be held vicariously liable if the company is prosecuted. Consequently, the petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
