https://www.taxtmi.com/caselaws?id=373406 Complaints under Section 138 read with Section 141 of the Negotiable Instruments Act were held maintainable where they contained specific averments that the accused directors were in charge of and responsible for the company's business at the relevant time, and that the offence occurred with their knowledge, consent and connivance. The court noted that the pleadings also referred to participation in the underlying transaction, including execution of the agreement and issuance of guarantees. A plea of resignation based on Form-32 and related documents, being disputed and not unimpeachable, could not be accepted at the threshold. The challenge to issuance of process therefore failed, and the defence was left to trial. en-us Thu, 10 Jan 2019 00:00:00 +0530 Sat, 12 Jan 2019 06:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373406 Complaints under Section 138 read with Section 141 of the Negotiable Instruments Act were held maintainable where they contained specific averments that the accused directors were in charge of and responsible for the company's business at the relevant time, and that the offence occurred with their knowledge, consent and connivance. The court noted that the pleadings also referred to participation in the underlying transaction, including execution of the agreement and issuance of guarantees. A plea of resignation based on Form-32 and related documents, being disputed and not unimpeachable, could not be accepted at the threshold. The challenge to issuance of process therefore failed, and the defence was left to trial. Case-Laws Indian Laws Thu, 10 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373406