https://www.taxtmi.com/caselaws?id=775894 In complaints under Section 138 read with Section 141 of the Negotiable Instruments Act, vicarious criminal liability cannot be fastened on independent, non-executive, or nominee directors unless the complaint makes specific averments that they were in charge of and responsible for the company's business at the relevant time. General references to meetings or correspondence are insufficient. The pendency or approval of insolvency resolution proceedings bars action against the corporate debtor under the Insolvency and Bankruptcy Code, but it does not automatically protect natural persons liable under Section 141. Proceedings may continue against a director where sufficient role-based allegations are pleaded. en-us Thu, 31 Jul 2025 00:00:00 +0530 Sat, 02 Aug 2025 07:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775894 In complaints under Section 138 read with Section 141 of the Negotiable Instruments Act, vicarious criminal liability cannot be fastened on independent, non-executive, or nominee directors unless the complaint makes specific averments that they were in charge of and responsible for the company's business at the relevant time. General references to meetings or correspondence are insufficient. The pendency or approval of insolvency resolution proceedings bars action against the corporate debtor under the Insolvency and Bankruptcy Code, but it does not automatically protect natural persons liable under Section 141. Proceedings may continue against a director where sufficient role-based allegations are pleaded. Case-Laws Indian Laws Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775894