https://www.taxtmi.com/caselaws?id=763651 Section 138 of the Negotiable Instruments Act applies only when the cheque is drawn on an account maintained by the accused, and an authorised signatory of a company is not treated as the drawer merely because he signed for the company. The Court also held that vicarious liability under Section 141 cannot be invoked against the signatory alone unless the company is arraigned as the principal offender. Accordingly, where the cheque was issued on the company's account and the company was not prosecuted as an accused, the complaint against the signatory alone was not maintainable. en-us Fri, 20 Dec 2024 00:00:00 +0530 Tue, 24 Dec 2024 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763651 Section 138 of the Negotiable Instruments Act applies only when the cheque is drawn on an account maintained by the accused, and an authorised signatory of a company is not treated as the drawer merely because he signed for the company. The Court also held that vicarious liability under Section 141 cannot be invoked against the signatory alone unless the company is arraigned as the principal offender. Accordingly, where the cheque was issued on the company's account and the company was not prosecuted as an accused, the complaint against the signatory alone was not maintainable. Case-Laws Indian Laws Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763651