https://www.taxtmi.com/caselaws?id=443012 Criminal liability for offences allegedly committed by a transferor bank before amalgamation did not pass to the transferee bank merely because assets and liabilities were transferred under the scheme. The Court held that criminal liability is personal to the actual wrongdoer, and the amalgamation scheme preserved liability only in respect of directors, secretaries, managers, officers and employees of the transferor bank. As no independent criminal act by the transferee bank was made out in the charge sheet, the criminal proceedings and summoning order could not continue against it and were liable to be quashed. en-us Mon, 11 Sep 2023 00:00:00 +0530 Fri, 15 Sep 2023 08:52:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443012 Criminal liability for offences allegedly committed by a transferor bank before amalgamation did not pass to the transferee bank merely because assets and liabilities were transferred under the scheme. The Court held that criminal liability is personal to the actual wrongdoer, and the amalgamation scheme preserved liability only in respect of directors, secretaries, managers, officers and employees of the transferor bank. As no independent criminal act by the transferee bank was made out in the charge sheet, the criminal proceedings and summoning order could not continue against it and were liable to be quashed. Case-Laws Indian Laws Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443012