Court Rules Special Director Not Liable for Cheque Dishonor; No Vicarious Liability u/s 138.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Liability of applicant, Special Director of the accused company - dishonour of the cheques - No vicarious liability can be fastened on the applicant herein, he being appointed as a Special Director by the Board for Industrial And Financial Reconstruction. - HC....