Bombay High Court Quashes Process Against Directors in Cheque Dishonour Case Due to Lack of Specific Averments of Vicarious Liability. The court held that under Section 141 of the Negotiable Instruments Act, 1881, directors cannot be held liable without specific allegations that they were in charge of and responsible for the conduct of business of the company.
10 Jan 2019The petitioners, Rakesh P. Gupta and Shishir Prabhakar Dharkar, were directors of a private limited company accused in two separate complaints under S...
