Independent Director Held Liable for Dishonored Cheque Despite Resignation; Proceedings to Continue per Court Decision.

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....Dishonour of Cheque - Vicarious liability - petitioner is an Independent Non-Executive Director - - the petitioner was appointed as Additional Director and resigned as Director from the accused no. 1 and was one of the Director when the cheque in question was issued, the petitioner cannot be absolved from vicarious liability arising out of cheque in question by pleading that he was not a party to the execution of Inter Corporate Deposit Agreement, Memorandum of Settlement, and the cheque in question was not issued under his signature - Proceedings to continue - HC....