<?xml version="1.0" encoding="UTF-8"?>
<?xml-stylesheet type="text/xsl" href="https://www.taxtmi.com/rss_sitemap/rss_feed_blog.xsl?v=1750492856"?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
  <channel>
    <title>2025 (2) TMI 674 - Supreme Court</title>
    <link>https://www.taxtmi.com/caselaws?id=766127</link>
    <description>Vicarious criminal liability under Section 141 of the Negotiable Instruments Act requires specific averments that a director was in charge of and responsible for the company&#039;s business at the relevant time. Mere designation as a director is insufficient, and liability cannot be fastened on an independent non-executive director who is not shown to have been involved in day-to-day affairs, financial decisions, or the dishonoured cheques. On the stated record, the complaints lacked the necessary particulars and the appellant had no active role in the transactions, so the proceedings were liable to be quashed.</description>
    <language>en-us</language>
    <pubDate>Thu, 13 Feb 2025 00:00:00 +0530</pubDate>
    <lastBuildDate>Wed, 19 Feb 2025 08:42:03 +0530</lastBuildDate>
    <generator>TaxTMI RSS Generator</generator>
    <atom:link href="https://www.taxtmi.com/rss_feed_blog?id=799275" rel="self" type="application/rss+xml"/>
    <item>
      <title>2025 (2) TMI 674 - Supreme Court</title>
      <link>https://www.taxtmi.com/caselaws?id=766127</link>
      <description>Vicarious criminal liability under Section 141 of the Negotiable Instruments Act requires specific averments that a director was in charge of and responsible for the company&#039;s business at the relevant time. Mere designation as a director is insufficient, and liability cannot be fastened on an independent non-executive director who is not shown to have been involved in day-to-day affairs, financial decisions, or the dishonoured cheques. On the stated record, the complaints lacked the necessary particulars and the appellant had no active role in the transactions, so the proceedings were liable to be quashed.</description>
      <category>Case-Laws</category>
      <law>Indian Laws</law>
      <pubDate>Thu, 13 Feb 2025 00:00:00 +0530</pubDate>
      <guid isPermaLink="true">https://www.taxtmi.com/caselaws?id=766127</guid>
    </item>
  </channel>
</rss>