https://www.taxtmi.com/caselaws?id=111289 Vicarious liability of a director under Section 141 of the Negotiable Instruments Act arises only when the complaint specifically pleads that the accused was, at the relevant time, in charge of and responsible for the company's conduct of business. A bare assertion that directors took part in negotiations for financial assistance is insufficient, because liability under this statutory fiction requires strict compliance with the pleaded ingredients and cannot be inferred. Since the complaint lacked adequate averments to attract Section 141 against the appellant, the proceedings were liable to be quashed under Section 482 CrPC and the appeal succeeded. en-us Fri, 20 Jul 2007 00:00:00 +0530 Fri, 20 Dec 2013 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111289 Vicarious liability of a director under Section 141 of the Negotiable Instruments Act arises only when the complaint specifically pleads that the accused was, at the relevant time, in charge of and responsible for the company's conduct of business. A bare assertion that directors took part in negotiations for financial assistance is insufficient, because liability under this statutory fiction requires strict compliance with the pleaded ingredients and cannot be inferred. Since the complaint lacked adequate averments to attract Section 141 against the appellant, the proceedings were liable to be quashed under Section 482 CrPC and the appeal succeeded. Case-Laws Companies Law Fri, 20 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111289