https://www.taxtmi.com/highlights?id=59927 Dishonor of Cheque - vicarious liability of Independent Directors / company secretary - The complaisant does not particularize the role of the petitioner in regard to facility agreement dated 28th March, 2010 executed by the Company with the complainant; nor the complaint discloses that the alleged offence was committed by the Company in connivance or was a result of the negligence of the petitioner - In absence of averments in the complaint, that petitioner is also “in charge” of the business of the company, the case could not fall under Section 141(1) of the Act. - HC en-us Mon, 04 Oct 2021 09:09:16 +0530 Mon, 04 Oct 2021 09:09:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59927 Dishonor of Cheque - vicarious liability of Independent Directors / company secretary - The complaisant does not particularize the role of the petitioner in regard to facility agreement dated 28th March, 2010 executed by the Company with the complainant; nor the complaint discloses that the alleged offence was committed by the Company in connivance or was a result of the negligence of the petitioner - In absence of averments in the complaint, that petitioner is also “in charge” of the business of the company, the case could not fall under Section 141(1) of the Act. - HC Highlights Indian Laws Mon, 04 Oct 2021 09:09:16 +0530 https://www.taxtmi.com/highlights?id=59927