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2018 (3) TMI 1993 - HC - Indian LawsDishonour of Cheque - vicarious liability of directors of an accused drawer Company u/s 141 of the Negotiable Instruments Act - period of limitation stipulated under Section 142 of NI Act - Service of statutory demand notice - HELD THAT:- A three Judge Bench of the Apex Court in the case in Aneeta Hada's case [[2012 (5) TMI 83 - SUPREME COURT]] has held that so long as the cheque is drawn from an account maintained by the Company the offence Section 138 of the N.I. Act is committed by the drawer of the Company and so the Company being the drawer is the principal offender in such an offence and the criminal complaint alleging offence under Section 138 could be maintained validly only by arraying the accused who is the drawer of the Company as an accused and though the other directors who were responsible for the affairs of the Company as conceived in Section 148 of the N.I. Act would also be arrayed as co-accused. Therefore, in view of the law declared subsequently by a three Judge Bench in Aneeta Hada's case [[2012 (5) TMI 83 - SUPREME COURT]], the view earlier taken by a two Judge Bench in Anil Hada's case [[1999 (11) TMI 808 - SUPREME COURT]] stood overruled. The Apex Court in Kirshna Texport & Capital Markets Ltd.'s case [[2015 (6) TMI 344 - SUPREME COURT]] has held that statutory demand notice on the drawer Company is mandatory where the drawer of the dishonoured cheque is a Company and that in such cases, it is not necessary to additionally issue notices to the directors/officers of the Company so long as the statutory demand notice is served on the drawer Company, etc. The revisional interdiction of this Court is imperative as the impugned judgments of the Courts below are illegal and ultra vires - the impugned judgments of both the Courts below will stand set aside and the conviction and sentence imposed on the petitioners will also stand set aside - the revision petitioners/accused No. 1 and accused No. 2 will stand acquitted for the offence punishable under Section 138 of the Negotiable Instruments Act. Criminal Revision Petition disposed off.
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