https://www.taxtmi.com/caselaws?id=307364 For prosecution under section 138 read with section 141 of the Negotiable Instruments Act, 1881, the firm or company must be arraigned as an accused before vicarious liability can attach to an authorised signatory, managing partner, or other person in charge. Where the cheque is drawn on the firm's account and statutory notice is not issued to the firm, the condition precedent for fastening liability on its officers is not satisfied. On that basis, the conviction and sentence were held unsustainable and the accused was acquitted. en-us Mon, 14 Jun 2021 00:00:00 +0530 Fri, 07 Apr 2023 21:30:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307364 For prosecution under section 138 read with section 141 of the Negotiable Instruments Act, 1881, the firm or company must be arraigned as an accused before vicarious liability can attach to an authorised signatory, managing partner, or other person in charge. Where the cheque is drawn on the firm's account and statutory notice is not issued to the firm, the condition precedent for fastening liability on its officers is not satisfied. On that basis, the conviction and sentence were held unsustainable and the accused was acquitted. Case-Laws Indian Laws Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307364