https://www.taxtmi.com/caselaws?id=757496 SC set aside HC order and quashed summoning order in criminal breach of trust case under Sections 406, 420, 120B IPC. Court held magistrate failed to apply mind when taking cognizance. No vicarious liability exists for company office bearers without specific statutory provision. Mere breach of contract cannot constitute criminal breach of trust without fraudulent intent from inception. In sale of goods, once property passes to purchaser, no entrustment exists for criminal breach of trust. Criminal prosecution requires dishonest misappropriation, not mere contractual breach. Civil remedy available for non-payment but criminal case not maintainable. Appeal allowed. en-us Fri, 23 Aug 2024 00:00:00 +0530 Tue, 27 Aug 2024 10:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757496 SC set aside HC order and quashed summoning order in criminal breach of trust case under Sections 406, 420, 120B IPC. Court held magistrate failed to apply mind when taking cognizance. No vicarious liability exists for company office bearers without specific statutory provision. Mere breach of contract cannot constitute criminal breach of trust without fraudulent intent from inception. In sale of goods, once property passes to purchaser, no entrustment exists for criminal breach of trust. Criminal prosecution requires dishonest misappropriation, not mere contractual breach. Civil remedy available for non-payment but criminal case not maintainable. Appeal allowed. Case-Laws Indian Laws Fri, 23 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757496