Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2014 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 1143 - HC - Indian LawsTrial for an offence punishable under Sections 138/141 of the Negotiable Instruments Act - prosecuting any Director under section 138 N.I. Act - Held that:- Mere allegation, the accused in-charge of and responsible to the Company for the conduct of its day to day business without anything more, as to the role of such Director in running the business is not sufficient and complaint should spell out as to how and in what manner such person was in charge of or was responsible to the accused Company in the conduct of its business. Going to the averment made in the complaint annexed with this application, find it is the case of the complainant that accused no. 4, Sujit Chakravorti although along with other designated as non-Executive Director still they are on various Committees of the Board of Directors overseeing financial, audit and other matters directly related to the conduct of the business of the accused no. 1, the Company. It was also alleged that they were all in charge of and responsible for the conduct and management of the day-to-day business and affairs of the accused no. 1, Kitply Industries Ltd. during the material time. Having regard to what have been stated in paragraph 4 of the complaint as aforesaid, this court is of the opinion, there is no lack of necessary averment as required for prosecuting any Director under section 138 N.I. Act, with the aid of section 141 of the said Act in all the aforesaid criminal revisions. Here in this case, there is specific averments that the present petitioner was in charge of and responsible for the conduct of the day to day affairs of the accused No. 1, the Company during the material time when the offence was committed. Thus criminal revisions under consideration stand dismissed
|