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SWARANA KANTA SHARMA
Ravi Dhingra – Appellant
Versus
State – Respondent
JUDGMENT
Swarana Kanta Sharma, J. The petitioner before this Court, by way of above-captioned petitions, seeks quashing of summoning orders in five complaint cases instituted under Section 138 and 142 of Negotiable Instruments Act, 1881 ('NI Act') arraigning him as an accused, by the complainant/respondent no. 2, as well as setting aside of orders in these cases by way of which the applications seeking discharge filed by the petitioner before the concerned Magistrate were dismissed.
2. This judgment shall govern the disposal of all the above-mentioned petitions filed under Section 482 and 483 of the Code of Criminal Procedure, 1973 ('Cr.P.C.').
3. Brief facts of the case, as disclosed from the complaint filed under Section 138 read with Section 141 of NI Act, are that the complainant company was engaged in the business of rendering financial services in India as a registered non-banking financial company, and the accused company namely M/s. Silverstar Fashions Private Limited was engaged in the business of manufacturing and exporting ready-made garments. It was stated that the accused company had approached the complainant in March, 2015 with a request to advance loan/financial as
The judgment emphasized the principles of vicarious liability under Section 141 of the NI Act and the need for material to substantiate contentions regarding non-involvement in the offense.
The main legal point established in the judgment is that the timing of a director's resignation from a company and their involvement in the company's affairs, especially in the context of dishonored ....
Directors and company secretary can be held liable under Section 138 and 141 of the NI Act if they are responsible for the day-to-day affairs of the company or if their negligence, connivance, or con....
The main legal point established in the judgment is that the role of each accused in the commission of the offence can only be determined during the trial and cannot be examined in detail by the cour....
Directors who had resigned prior to the issuance of a dishonored cheque cannot be held liable under Sections 138 and 141 of the Negotiable Instruments Act, and specific averments are required to esta....
Vicarious liability under the Negotiable Instruments Act requires proof of a director's active involvement and responsibility in the company's operations, not merely their title.
An individual in a company cannot be vicariously liable for criminal offenses under the NI Act unless they are responsible for the company's conduct at the time of the offense.
Vicarious liability of directors under Section 141(1) of the Negotiable Instruments Act, 1881 is contingent on their position at the time of the offense, and procedural irregularities in taking cogni....
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