https://www.taxtmi.com/caselaws?id=295258 The court quashed the proceedings against Directors A-3 to A-5 as the complaint lacked specific allegations regarding their roles and they were not signatories to the cheque. However, the court allowed the proceedings against Company A-1 and Managing Director A-2 to continue, holding them liable under Section 138 of the Negotiable Instruments Act due to the absence of a rebuttal to the presumption of a legally enforceable debt. The court emphasized the necessity of specific averments in complaints for directors' liability under Section 141 of the Act. en-us Fri, 11 Sep 2015 00:00:00 +0530 Wed, 26 May 2021 08:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295258 The court quashed the proceedings against Directors A-3 to A-5 as the complaint lacked specific allegations regarding their roles and they were not signatories to the cheque. However, the court allowed the proceedings against Company A-1 and Managing Director A-2 to continue, holding them liable under Section 138 of the Negotiable Instruments Act due to the absence of a rebuttal to the presumption of a legally enforceable debt. The court emphasized the necessity of specific averments in complaints for directors' liability under Section 141 of the Act. Case-Laws Indian Laws Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295258