Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The HC upheld the order of the Revisional Court, declining to quash the complaint u/ss 138/141 of the NI Act against the petitioners, who were partners of the accused-firm. While the petitioners could not be held liable for cheques issued by a partner in personal capacity, they were rightly made accused for cheques issued by the partner on behalf of the firm. The HC found no reason to exercise inherent powers u/s 482 of the Code to quash the proceedings.
The HC upheld the order of the Revisional Court, declining to quash the complaint u/ss 138/141 of the NI Act against the petitioners, who were partners of the accused-firm. While the petitioners could not be held liable for cheques issued by a partner in personal capacity, they were rightly made accused for cheques issued by the partner on behalf of the firm. The HC found no reason to exercise inherent powers u/s 482 of the Code to quash the proceedings.
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