https://www.taxtmi.com/caselaws?id=281490 The court ruled in favor of the Managing Director in a case involving a dishonored cheque issued by another individual. The court held that the Managing Director cannot be held liable under Section 138 of the Negotiable Instruments Act as the cheque was not drawn on behalf of the company. Citing the case law State of Haryana v. Bhajanlal, the court quashed the complaint against the Managing Director, emphasizing that he cannot be held responsible for the actions of the Director in his individual capacity. en-us Wed, 21 Jul 2004 00:00:00 +0530 Thu, 20 Jun 2019 18:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281490 The court ruled in favor of the Managing Director in a case involving a dishonored cheque issued by another individual. The court held that the Managing Director cannot be held liable under Section 138 of the Negotiable Instruments Act as the cheque was not drawn on behalf of the company. Citing the case law State of Haryana v. Bhajanlal, the court quashed the complaint against the Managing Director, emphasizing that he cannot be held responsible for the actions of the Director in his individual capacity. Case-Laws Companies Law Wed, 21 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281490