https://www.taxtmi.com/caselaws?id=111220 The SC held the director was not vicariously liable under s.141 NI Act because liability is assessed on the offence date and mere presence on a resolution does not show responsibility for the company's business. The Court found only one accused was actively involved in obtaining loans and signing cheques; the impugned resolution and delayed cheques did not prove the director was both in charge of and responsible for company conduct. The statutory ingredients of s.141 were therefore not satisfied. en-us Tue, 20 Feb 2007 00:00:00 +0530 Tue, 16 Sep 2025 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111220 The SC held the director was not vicariously liable under s.141 NI Act because liability is assessed on the offence date and mere presence on a resolution does not show responsibility for the company's business. The Court found only one accused was actively involved in obtaining loans and signing cheques; the impugned resolution and delayed cheques did not prove the director was both in charge of and responsible for company conduct. The statutory ingredients of s.141 were therefore not satisfied. Case-Laws Companies Law Tue, 20 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111220