JUDGMENT :

SANJAY KAROL, J.

1. Leave granted.

2. Whether a Director who has resigned from such position and which fact stands recorded in the books as per the relevant rules and statutory provisions, can be held liable for certain negotiable instruments, failing realization, is the sole short and common question that this Court must consider in these appeals arising out of the judgment and order dated 6th April, 2022 in CRLOP No. 34923 of 2019 and 8th April, 2022 in CRLOP No. 34248 of 2019.

3. A brief conspectus of facts for adjudication of the present lis is:

(a) The appellants in both the appeals were Directors in the Respondent-Company and had resigned from such Directorship on 9th December, 2013¹ [Annexure P-1, Page 45 of Paperbook] and 12th March, 2014² [Annexure P-1, Page 43 of Paperbook] respectively.

(b) Form 32 in accordance with Sections 303(2), 264(2), 266(1)(a), and 266(1)(b)(iii) of the Companies Act, 1956, in respect thereof stood accepted on 9th December, 2013 and 20th March, 2014 respectively. The relevant records stood rectified, incorporating these changes.

(c) The appellants, namely, Rajesh Viren Shah and Sanjay Babulal Bhutada in Criminal Appeal Nos........@ SLP (Crl)