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2017 (11) TMI 1865 - HC - Indian LawsMaintainability of petition - Dishonor of Cheque - Sections 138, 141 and 132 of Negotiable Instruments Act, 1881 - Liability of a Director - Vicarious Liability - respondent contended that the summoning order has been passed by learned Magistrate and the remedy by way of revision before the Court is Sessions is available to the present petitioner and as such, the present petition under Section 482 Cr.P.C. is not maintainable. HELD THAT:- This Court is of the considered view that most of the facts are not disputed that the petitioner is not signatory to the cheques in question. He was not Director of the Company on the relevant date i.e., 20-08-2014/26-08-2014 when the cheques were issued, rather he had resigned from his position long-back on 7.10.2013 and his resignation was accepted vide Annexure P/5. Notice was also issued in the news paper on 24.10.2013 i.e., prior to the issuance of cheques in question. As per provisions of Sections 138 and 141 of the Act, a Director can be held liable on the principle of 'vicarious liability', but there must be specific averments against the said Director showing as to how and in what manner, he was responsible for the conduct of the business of the Company, but in the case in hand, the facts are totally otherwise because the petitioner was not the Director of the Company on the date of issuance of cheques in question, rather he had resigned long back, which was duly accepted. More so, the petitioner is not signatory to the cheques. Petition allowed.
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