Bombay High Court Quashes FIR Against Directors in Dishonour of Cheque Case Due to Lack of Specific Allegations — Vicarious Liability Not Attracted Without Clear Role in Day-to-Day Affairs. The court held that under Section 138 of the Negotiable Instruments Act, 1881, directors cannot be held vicariously liable unless the complaint contains specific averments that they were in charge of and responsible for the conduct of the business of the company.
30 Nov -0001The judgment pertains to two criminal writ petitions filed by directors of a company against whom an FIR was lodged under Section 138 of the Negotiabl...




