Directors' Vicarious Liability: Resignations Unapproved, Accountability in Cheque Dishonor Cases Under Scrutiny.

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....Dishonor of Cheque - Vicarious Liability of Directors - resignation of directors - Without having the approval and recommendation of the board of directors the Form No. DIR – 11 has been accepted by the Registrar of the Companies. There is no denial to the fact that, till date the names of the applicants are being shown as director in the companies record.....