Cheque Dishonor: Section 138 & 141 of Indian Law Hold Companies and Responsible Officers Accountable for Insufficient Funds.

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....Dishonor of Cheque - insufficient funds - privity of contract - where the person committing an offence under Section 138 of the N.I.Act is a company, every person, who, at the time of commission of offence was incharge of, and was responsible to the company for conduct of business of the company, as well as the company, shall be deemed to be guilty of offence and liable to be proceeded against and punished accordingly. This is evident from the provisions of Section 141 of the N.I.Act. - HC....