https://www.taxtmi.com/caselaws?id=753429 Section 141 of the Negotiable Instruments Act permits prosecution of a person who was in charge of and responsible for the company's business when the cheque was issued, and a cheque signatory may prima facie be presumed to have such responsibility. On the pleaded facts, the Chief Financial Officer was stated to be the authorised signatory who issued the cheque and to have been responsible for the company's conduct of business, bringing him within the scope of statutory liability under Section 138 read with Section 141. The objection based on Section 28 was rejected because the complaint invoked statutory liability, not mere agency-based responsibility, and the arraignment challenge failed. en-us Mon, 27 May 2024 00:00:00 +0530 Sat, 01 Jun 2024 21:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753429 Section 141 of the Negotiable Instruments Act permits prosecution of a person who was in charge of and responsible for the company's business when the cheque was issued, and a cheque signatory may prima facie be presumed to have such responsibility. On the pleaded facts, the Chief Financial Officer was stated to be the authorised signatory who issued the cheque and to have been responsible for the company's conduct of business, bringing him within the scope of statutory liability under Section 138 read with Section 141. The objection based on Section 28 was rejected because the complaint invoked statutory liability, not mere agency-based responsibility, and the arraignment challenge failed. Case-Laws Indian Laws Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753429