2007 (8) TMI 792

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...., J. 1. A short matter which could have been disposed of at the hearing held on 8.8.2007 was required to be reserved for judgment for the reason learned counsel for the respondent failed to search the relevant case law. A matter which is clearly covered in favour of the respondent viz-a-viz petitioner no.2 could have been disposed of on relevant judgment been cited. 2. It is expected from membe....

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....ence of the main accused, a co-accused whose liability was vicarious could not be prosecuted. 5. The issue is no longer res integra. In the decision reported as 2000 (1) SCC 1 Anil Handi Vs. Indian Acrylic Ltd. it was held that a complaint under Section 138 read with Section 141 of the NI Act 1938 was maintainable if only Director of the Company was impleaded as an accused. It was held that a com....