https://www.taxtmi.com/caselaws?id=295114 The petitioners, former directors of M/s. Sakura Seimitsu India Limited, were summoned under Section 138 of the Negotiable Instruments Act. They claimed resignation before the cheques were presented, supported by Form 32 evidence. The court found that their resignation absolved them of vicarious liability under Section 141, citing precedents. Certified copies of Form 32 were deemed admissible evidence. The petitioners' complaints were quashed, pending submission of Sanjeev Gupta's Form 32. The trial would proceed against the remaining accused individuals. en-us Wed, 20 Jan 2010 00:00:00 +0530 Wed, 19 May 2021 13:56:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295114 The petitioners, former directors of M/s. Sakura Seimitsu India Limited, were summoned under Section 138 of the Negotiable Instruments Act. They claimed resignation before the cheques were presented, supported by Form 32 evidence. The court found that their resignation absolved them of vicarious liability under Section 141, citing precedents. Certified copies of Form 32 were deemed admissible evidence. The petitioners' complaints were quashed, pending submission of Sanjeev Gupta's Form 32. The trial would proceed against the remaining accused individuals. Case-Laws Indian Laws Wed, 20 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295114