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2015 (8) TMI 889 - SC - Companies LawDishonor of Cheque - Liability of Director - Cheque in name of Accused company-1 was issued to Appellant which was not honoured and in spite of statutory notice issued, no amount in respect of said cheque was paid – Respondents filed petitions for quashing said complaint, which was allowed – Held that:- admitted position that simply because someone was Director in company, he cannot be held responsible in respect of cheque issued on behalf of company, but if concerned Director was in-charge of and was responsible to company for its conduct of business, he can be held to be guilty of offence under Section 138 of negotiable instruments act, 1881 – Therefore, High Court ought not to have quashed proceedings against such directors – High Court committed error by making observation that not single statement was made in complaint to effect that Accused Nos. 3 to10 were in-charge of day-to-day business of Accused No. 1 – company –thus, impugned order of High Court set aside and Appeals allowed – Decide in favour of Appellant.
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