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2022 (2) TMI 851 - HC - Indian LawsDishonor of Cheque - Funds Insufficient - acquittal of the accused - main thrust of contention of the present petitioner is that since he has resigned from the company he cannot be made liable for the dishonoured cheque - HELD THAT:- In view of the law laid down in the case of Lalit Kumar Sharma [2008 (5) TMI 429 - SUPREME COURT] that the second complaint do not create any new debt or liability the provisions of Section 141 of the Negotiable Instruments Act which refers “every person” and consent and connivance attributable on the part of “any director” should be extended to the present petitioner as liability depends on the role played by a person and not on his designation - the case is at the initial stage any further interpretation regarding the conduct of the present petitioner as also the manner of application of precedents would encourage defaulters to enter into compromise and thereafter resign from the Company. On an appreciation of the factual aspect it is reiterated that this opinion is expressed by this Court as the petitioner has challenged the proceedings at the very inception regarding the maintainability of the proceedings against him - However, if in course of proceedings the petitioner is able to rebut the presumptions so far as the proviso clause of Sub-section 1 is concerned i.e. “if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence” he would be entitled to an order of acquittal. The stage at which petitioner has approached this Court is premature and as such this Court finds no reason to interfere with the proceedings. Revision application dismissed.
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