Bombay High Court Quashes FIR Against Directors of Housing Society in Cheque Dishonour Case — No Vicarious Liability Without Specific Role in Day-to-Day Affairs. Directors of a cooperative housing society cannot be held vicariously liable under Section 138 of the Negotiable Instruments Act, 1881 for dishonour of cheques issued by the society unless they are shown to be in charge of and responsible for the conduct of the business of the society at the time of the offence.
30 Nov -0001The petitioners, who were Directors of a cooperative housing society, filed a writ petition under Article 226 of the Constitution of India read with S...
