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2022 (7) TMI 41 - HC - Indian LawsDishonor of Cheque - fund insufficient - vicarious liability on management of the company - applicability of section 141 of Negotiable Instruments Act, 1881 - HELD THAT:- On perusal of the complaint, it is found that the complaint is bald regarding the role played by each of the Directors of the Company. In the light of the rulings cited by the learned Counsel for the Petitioner in NK. WAHI VERSUS SHEKHAR SINGH & ORS [2007 (3) TMI 671 - SUPREME COURT], SMS PHARMACEUTICALS LTD. VERSUS NEETA BHALLA [2007 (2) TMI 311 - SUPREME COURT] and ASHOKE MAL BAFNA VERSUS M/S UPPER INDIA STEEL MFG. & ENGG. CO. LTD. [2017 (3) TMI 907 - SUPREME COURT], the averments in the complaint is found bald regarding the role played by each of the Directors of the Company. Under those circumstances, the complaint filed by the Respondent/Complainant before the learned Judicial Magistrate, Fast Track Court, Ambattur is not maintainable in law. This Criminal Original Petition is allowed.
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