https://www.taxtmi.com/caselaws?id=395233 A complaint under Section 138 of the Negotiable Instruments Act was treated as not maintainable where the cheque was presented and the statutory notice was issued only after the company had already been ordered to be wound up and placed under liquidation. Once the Official Liquidator had taken over, the directors were no longer in control of the company's affairs, so the statutory steps under Section 138 could not found ordinary criminal liability. Derivative liability under Section 141 also could not be fastened on the ex-directors in these circumstances, and the complaint was set aside. en-us Tue, 12 May 2020 00:00:00 +0530 Wed, 13 May 2020 09:59:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395233 A complaint under Section 138 of the Negotiable Instruments Act was treated as not maintainable where the cheque was presented and the statutory notice was issued only after the company had already been ordered to be wound up and placed under liquidation. Once the Official Liquidator had taken over, the directors were no longer in control of the company's affairs, so the statutory steps under Section 138 could not found ordinary criminal liability. Derivative liability under Section 141 also could not be fastened on the ex-directors in these circumstances, and the complaint was set aside. Case-Laws Indian Laws Tue, 12 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395233