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2017 (12) TMI 1099 - HC - Indian LawsLiability of applicant, Special Director of the accused company - dishonour of the cheques - whether the applicant herein being the Special Director appointed by the Board for Industrial & Financial Reconstruction can be held vicarious liable under section141 of the N.I. Act? - Held that: - issue raised in this batch of writapplications is squarely covered by a decision of this Court in the case of Nikhil P. Gandhi Vs. State of Gujarat & Ors. [2016 (6) TMI 726 - GUJARAT HIGH COURT], where it was held that there is no cogent material on record to fasten any vicarious liability so far as the other accused are concerned who are NonExecutive Directors including the Office Bearers concerned with the Accounts Department of the company. No vicarious liability can be fastened on the applicant herein, he being appointed as a Special Director by the Board for Industrial And Financial Reconstruction. Application allowed.
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