Bombay High Court Quashes Criminal Complaints Against Directors Under Section 138/141 of NI Act for Lack of Specific Averments. The Court Held That Mere Designation as Director Without Allegation of Being in Charge of and Responsible for Company's Affairs Does Not Satisfy Section 141, Following S.M.S. Pharmaceuticals Ltd. v. Neeta Bhalla.
17 Jun 2011The matter involved a series of criminal writ petitions filed by Directors of two companies, Elite International Pvt. Ltd. and Vedic Cotton Limited, s...
