https://www.taxtmi.com/caselaws?id=295129 The court ruled in favor of the petitioners, nominee Directors in a case under Section 138 of the Negotiable Instruments Act. The court emphasized that liability cannot be solely based on directorship without evidence of active involvement in the company's affairs. Referring to Section 141 of the Act, the court quashed the proceedings against the petitioners, highlighting the necessity of demonstrating management participation to establish liability for company offenses. The judgment clarifies the requirements for holding nominee Directors accountable under the Act, emphasizing the need for evidence linking individuals to alleged offenses. en-us Fri, 01 Feb 2019 00:00:00 +0530 Thu, 20 May 2021 08:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295129 The court ruled in favor of the petitioners, nominee Directors in a case under Section 138 of the Negotiable Instruments Act. The court emphasized that liability cannot be solely based on directorship without evidence of active involvement in the company's affairs. Referring to Section 141 of the Act, the court quashed the proceedings against the petitioners, highlighting the necessity of demonstrating management participation to establish liability for company offenses. The judgment clarifies the requirements for holding nominee Directors accountable under the Act, emphasizing the need for evidence linking individuals to alleged offenses. Case-Laws Indian Laws Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295129