https://www.taxtmi.com/caselaws?id=794559 A cheque allegedly issued in the name of a company after its dissolution cannot sustain a prosecution under Section 138 of the Negotiable Instruments Act because a dissolved company has no juristic existence and the instrument is not legally enforceable. Vicarious liability under Section 141 also fails where the complaint does not contain a specific averment that the Director was in charge of and responsible for the company's day-to-day business at the relevant time. On these pleaded facts, the complaint and the proceedings against the Director were quashed. en-us Wed, 01 Jul 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794559 A cheque allegedly issued in the name of a company after its dissolution cannot sustain a prosecution under Section 138 of the Negotiable Instruments Act because a dissolved company has no juristic existence and the instrument is not legally enforceable. Vicarious liability under Section 141 also fails where the complaint does not contain a specific averment that the Director was in charge of and responsible for the company's day-to-day business at the relevant time. On these pleaded facts, the complaint and the proceedings against the Director were quashed. Case-Laws Indian Laws Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794559