Search Results for "Section 141 Negotiable Instruments Act"

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Supreme Court Partially Upholds Complaint Under National Housing Bank Act. High Court's Quashing of Complaint Against Company Directors Overturned; Case to Proceed Against Managing Director and Company

The appellant filed a complaint alleging a violation of Section 29A of the National Housing Bank Act, 1987. The Magistrate took cognizance of the comp...

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Bombay High Court Allows Compounding of NI Act Offence Despite Complainant's Objection. Payment of Full Cheque Amount with Interest and Costs Entitles Accused to Compounding Under Section 147 of Negotiable Instruments Act, 1881.

The applicants, who were accused in a criminal complaint filed by the respondent-company under Section 138 of the Negotiable Instruments Act, 1881, ch...

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Supreme Court Quashes Criminal Complaint Under Section 138 NI Act for Cheque Issued as Security — Endorsement on Cheque and Plaint Admission Confirm Security Purpose, No Legally Enforceable Debt Exists

The Supreme Court allowed the appeals filed by the Directors and Managing Director of R.L. Steels & Energy Limited, quashing the criminal complaint un...

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Bombay High Court Quashes Complaint in NI Act Case for Lack of Vicarious Liability — Petitioner Not a Director or Signatory. Section 141 of Negotiable Instruments Act, 1881 requires specific averments of role and consent for vicarious liability of company officers.

The petitioner, Sidharth Chauhan, filed a writ petition under Article 226 of the Constitution of India read with Section 482 of the Code of Criminal P...

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Bombay High Court Quashes Process Against Directors in Cheque Dishonour Case Due to Lack of Specific Averments. Directors Cannot Be Prosecuted Under Section 138 of Negotiable Instruments Act, 1881 Without Allegations of Their Role in Company's Day-to-Day Affairs.

The petitioners, who were directors of the accused company, filed a criminal writ petition under Article 226 of the Constitution of India read with Se...