Tuesday 21 October 2014

Directors are liable on dishonour of cheques if they are in charge of business of Co.; SC's obiter d

CL : Once in a complaint filed under section 138 read with section 141 of the Negotiable Instrument Act basic averment is made that Director was in charge of and responsible for conduct of business of company at relevant time when offence was committed, Magistrate can issue process against such Director


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