https://www.taxtmi.com/caselaws?id=299156 The court quashed the proceedings under Section 482 Cr.P.C. against the petitioner/A2 regarding offenses under the Negotiable Instruments Act, 1881, and IPC Section 420. The court found that the petitioner's role as a Director did not establish active participation in the company's day-to-day affairs, thus rejecting vicarious liability under Section 141 of the Act. The petition was allowed, and the proceedings were quashed, with directions for expedited case disposal. The second respondent was advised to pursue civil litigation for recovery, and pending miscellaneous petitions were ordered closed. en-us Wed, 13 Jun 2018 00:00:00 +0530 Sun, 05 Dec 2021 14:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299156 The court quashed the proceedings under Section 482 Cr.P.C. against the petitioner/A2 regarding offenses under the Negotiable Instruments Act, 1881, and IPC Section 420. The court found that the petitioner's role as a Director did not establish active participation in the company's day-to-day affairs, thus rejecting vicarious liability under Section 141 of the Act. The petition was allowed, and the proceedings were quashed, with directions for expedited case disposal. The second respondent was advised to pursue civil litigation for recovery, and pending miscellaneous petitions were ordered closed. Case-Laws Indian Laws Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299156