Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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Complaint under Sections 138 and 141 of the Negotiable Instruments Act was held not maintainable where the cheque was issued on behalf of a company but the company itself was not arrayed as an accused. Applying the principle that vicarious liability of directors or authorised signatories arises only when the principal offender, namely the drawer company, is before the court, the court held that arraignment of the company is a mandatory condition precedent. On that basis, the complaints and summoning orders against the petitioner alone were set aside, with liberty to pursue any remedy available in law.
Complaint under Sections 138 and 141 of the Negotiable Instruments Act was held not maintainable where the cheque was issued on behalf of a company but the company itself was not arrayed as an accused. Applying the principle that vicarious liability of directors or authorised signatories arises only when the principal offender, namely the drawer company, is before the court, the court held that arraignment of the company is a mandatory condition precedent. On that basis, the complaints and summoning orders against the petitioner alone were set aside, with liberty to pursue any remedy available in law.
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