High Court Dismisses Appeal: Director Filed Cheque Dishonor Complaint Instead of Payee; Company Loan Authorization Questioned.

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....Dishonoring of cheque - complaint was not filed by the payee but by the director - As per the case made out in the complaint, the transaction was a loan transaction. It is not clear whether the Company was authorized to do the business of advancing loan with interest. The possibility, of the complaint not having been filed in the name of the Company keeping this aspect in mind, therefore, cannot be ruled out. - appeal dismissed - HC....