Dishonor of Cheque - vicarious liability of authorized signatory ...
Indian Laws
June 17, 2022
Dishonor of Cheque - vicarious liability of authorized signatory - There is no denial that stop payment was made. A plea has also been taken that Gurucharan Singh, who has signed the Cheque was neither Director nor authorized signatory of the Company on the date of issuance of Cheque. But nothing has been placed before this court in support of this plea and disclosed as to who was the authorized signatory and as to how and why the applicants were not responsible to the Company for conduct of the business of Company, whereas the applicant no.1 is the Company and applicants no.2 to 4 are the Directors of the Company. Therefore, it can not be said that they are not responsible. - HC
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