https://www.taxtmi.com/caselaws?id=113140 Criminal proceedings for cheating and offences under the Prize Chits and Money Circulation Schemes (Banning) Act could not be sustained against a former director who had resigned before the alleged offence period and against whom the complaint and FIR contained no specific allegation. The Court noted that Form No. 32 reflected the resignation, and there was no averment of active participation, deception, or dishonest or fraudulent intention attributable to the accused. It reaffirmed that cheating requires dishonest intention at the time of inducement, and that vicarious criminal liability cannot be inferred merely from past association with a company in the absence of allegations that the person was in charge of or responsible for its business during the relevant period. en-us Thu, 12 Aug 2010 00:00:00 +0530 Thu, 28 Mar 2019 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113140 Criminal proceedings for cheating and offences under the Prize Chits and Money Circulation Schemes (Banning) Act could not be sustained against a former director who had resigned before the alleged offence period and against whom the complaint and FIR contained no specific allegation. The Court noted that Form No. 32 reflected the resignation, and there was no averment of active participation, deception, or dishonest or fraudulent intention attributable to the accused. It reaffirmed that cheating requires dishonest intention at the time of inducement, and that vicarious criminal liability cannot be inferred merely from past association with a company in the absence of allegations that the person was in charge of or responsible for its business during the relevant period. Case-Laws Indian Laws Thu, 12 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113140