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Dishonored Cheque by Partnership: Managing Partners Held Liable u/s 138 of Negotiable Instruments Act.

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....Dishonor of Cheque - when an offence is alleged to have been committed by the partnership firm, every person who, at the time the offence was committed, was in charge of and was responsible to the firm for the conduct of its business as well as the firm shall be deemed to be guilty of the offence and shall be liable to be proceeded under Section 138 of the NI Act. - HC....

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