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2014 (7) TMI 545 - SC - Companies LawDishonour of cheques - prosecution of directors - complaint under Section 138 read with Section 141 of the Negotiable Instruments Act, 1881 - Held that:- for maintaining the prosecution under Section 141 of the Act, arraigning of a company as an accused is imperative. The other categories of offenders can only be brought in the drag-net on the touchstone of vicarious liability as the same has been stipulated in the provision itself. - Decision in Aneeta Hada v. Godfather Travels and Tours Pvt. Ltd. [2012 (5) TMI 83 - SUPREME COURT OF INDIA] followed. The High Court by impugned judgment dated 13th August, 2007 held that the complaint against respondent no.2-Company was not maintainable and quashed the summon issued by the Trial Court against respondent no.2-Company. Thereby, the Company being not a party to the proceedings under Section 138 read with Section 141 of the Act and in view of the fact that part of the judgment referred to by the High Court in Anil Hada [1999 (11) TMI 808 - SUPREME COURT OF INDIA] has been overruled by three Judge Bench of this Court in Aneeta Hada, we have no other option but to set aside the rest part of the impugned judgment whereby the High Court held that the proceedings against the appellant can be continued even in absence of the Company. - Decided in favor of appellant.
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