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2020 (12) TMI 1077 - HC - Indian LawsDishonor of Cheque - insufficiency of funds - Sections 138 read with 142 of the Negotiable Instruments Act, 1881 - vicarious liability on the part of the accused - legally enforceable debt or not - HELD THAT:- It is not in dispute that the petitioner/A3 was a Director of A1 company and in the complaint lodged by the respondent except mentioning the magical word that the accused are incharge of the management and affairs of the company, there is nothing more. This Court finds that there is no factual averments to show how the petitioner is responsible for the business and conduct of A1 company to invoke provision under Section 141 of the Negotiable Instruments Act - Further, the petitioner/A3 is no more Director of the A1 company on the date of cheque i.e., on 07.09.2012, since she resigned from the company on 10.10.2011. In support of the contention, the petitioner produced Form 32 to that effect, which is at page No.6 of the typed set. The petitioner is a lady. Petition allowed.
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