https://www.taxtmi.com/caselaws?id=401080 The court set aside the criminal complaint and summoning order against the petitioner/former director, emphasizing the lack of personal liability established for the company's debts. Insolvency proceedings against the company resulted in the suspension of directors, shifting primary liability for the bounced cheques to the company. The court clarified the legal principles governing director liability in such cases, highlighting the necessity of specific averments to establish individual responsibility. Proceedings were allowed to continue against the company/accused No.1 based on these findings. en-us Thu, 08 Oct 2020 00:00:00 +0530 Fri, 27 Nov 2020 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401080 The court set aside the criminal complaint and summoning order against the petitioner/former director, emphasizing the lack of personal liability established for the company's debts. Insolvency proceedings against the company resulted in the suspension of directors, shifting primary liability for the bounced cheques to the company. The court clarified the legal principles governing director liability in such cases, highlighting the necessity of specific averments to establish individual responsibility. Proceedings were allowed to continue against the company/accused No.1 based on these findings. Case-Laws Indian Laws Thu, 08 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401080