2021 (12) TMI 331 - TELANGANA HIGH COURT - Indian Laws

Head Note / Extract:
Dishonor of Cheque - insufficiency of funds - signatory of the cheque - vicarious liability of NI Act - HELD THAT:- Considering the fact that the petitioners - A5, A7, A8 and A9 were not the drawers of the cheques and had not signed the same and no specific averments were made in the complaint against them showing the role played by them as to how they were responsible for the conduct of day to day business of the company, it is considered fit to quash the proceedings against the petitioners. The Criminal petition allowed.