https://www.taxtmi.com/caselaws?id=440487 The court dismissed the petitions seeking to quash summoning orders under Section 138 of the Negotiable Instruments Act, 1881. It held former directors liable under Section 141 for dishonored cheques issued after their appointment, emphasizing trial necessity to determine validity of security cheques. The court found insufficient evidence to support the claim of nominee directors' limited involvement, noting trial would clarify roles. The decision affirmed the summoning orders, stating observations were for petition consideration only and would not impact trial merits. en-us Wed, 12 Jul 2023 00:00:00 +0530 Wed, 19 Jul 2023 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440487 The court dismissed the petitions seeking to quash summoning orders under Section 138 of the Negotiable Instruments Act, 1881. It held former directors liable under Section 141 for dishonored cheques issued after their appointment, emphasizing trial necessity to determine validity of security cheques. The court found insufficient evidence to support the claim of nominee directors' limited involvement, noting trial would clarify roles. The decision affirmed the summoning orders, stating observations were for petition consideration only and would not impact trial merits. Case-Laws Indian Laws Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440487