Dishonour of Cheque - Vicarious liability of the Company ...

Indian Laws

May 3, 2024

Dishonour of Cheque - Vicarious liability of the Company Secretary - The CS was never a Director of the Accused Company - In-charge of the day-to-day affairs of the company or not - The petitioner, identified as a Company Secretary, refutes her vicarious liability, asserting her limited role in the company's affairs. The court scrutinizes the petitioner's position and the allegations against her, concluding that the complaints inadequately substantiate her involvement in the offense. As a Company Secretary, her duties primarily pertain to legal compliance rather than active management, thereby absolving her of vicarious liability under Section 141. Consequently, the court quashes the complaints against the petitioner and sets aside the summoning orders.

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Dishonour of Cheque - Vicarious liability of the Company ...

Indian Laws

May 3, 2024

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