https://www.taxtmi.com/caselaws?id=756088 The SC held that for Section 143-A of the Negotiable Instruments Act, the drawer remains the person who issues the cheque, and that meaning is not expanded by the vicarious liability scheme in Section 141. An authorised signatory signs on behalf of the company but does not become the company or the drawer for interim compensation purposes. Because Section 143-A is a penal and coercive provision, it must be applied strictly to its text, and interim compensation cannot be fastened on the signatory when the company has not been proceeded against as drawer. en-us Wed, 24 Jul 2024 00:00:00 +0530 Thu, 25 Jul 2024 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756088 The SC held that for Section 143-A of the Negotiable Instruments Act, the drawer remains the person who issues the cheque, and that meaning is not expanded by the vicarious liability scheme in Section 141. An authorised signatory signs on behalf of the company but does not become the company or the drawer for interim compensation purposes. Because Section 143-A is a penal and coercive provision, it must be applied strictly to its text, and interim compensation cannot be fastened on the signatory when the company has not been proceeded against as drawer. Case-Laws Indian Laws Wed, 24 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756088