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2020 (1) TMI 1507 - HC - Indian LawsDishonor of Cheque - insufficiency of funds - discharge of debt - materials which the accused may produce even before the commencement of trial - vicarious liability of the Director - HELD THAT:- The document viz. Form-32, a certified copy of which is filed by the Petitioner, would reveal that the Petitioner was not the Director who was in charge and responsible for the day to day affairs of the Company during the relevant period when the cheque was issued. The Honourable Supreme Court in the case of SMS PHARMACEUTICALS LTD. VERSUS NEETA BHALLA [2005 (9) TMI 304 - SUPREME COURT] has held that with a view to make a Director of a Company vicariously liable for the acts of the Company, it was obligatory on the part of the complainant to make specific allegations as are required in law. The well settled principle laid down by the Honourable Supreme Court, in a catena of decisions is squarely applicable to the facts of the case on hand, as in this case also there is only a bald and vague allegations made against the Petitioner and such bald and vague allegations itself is not sufficient without making any specific averment as to as to how and in what manner the Petitioner was responsible for the conduct of the business of the Company - petition allowed.
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