https://www.taxtmi.com/caselaws?id=460217 Uttarakhand HC dismissed application challenging vicarious liability of company director under Negotiable Instruments Act. Director holding 5% shares was deemed drawer under Section 148 after conviction under Section 138 read with Section 141. Court held that absent challenge to summoning order in principal complaint proceedings, director's status as drawer was established for practical purposes. Director's liability attracted Section 148 provisions despite minimal shareholding. Appellate court's order requiring 20% deposit was upheld and application dismissed. en-us Mon, 17 Oct 2022 00:00:00 +0530 Wed, 15 Jan 2025 20:53:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460217 Uttarakhand HC dismissed application challenging vicarious liability of company director under Negotiable Instruments Act. Director holding 5% shares was deemed drawer under Section 148 after conviction under Section 138 read with Section 141. Court held that absent challenge to summoning order in principal complaint proceedings, director's status as drawer was established for practical purposes. Director's liability attracted Section 148 provisions despite minimal shareholding. Appellate court's order requiring 20% deposit was upheld and application dismissed. Case-Laws Indian Laws Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460217