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ROBIN PHUKAN
Siddarth Mundra, Son Of Sri Govind Mundra – Appellant
Versus
Steel Traders, Sole Proprietor Shri Hanuman Prasad Jain, Son Of Late Kashiram Jain – Respondent
JUDGMENT :
1. Heard Mr. R. Hussain, learned counsel for the petitioners. Also heard Mr. D. Chakravarty, learned counsel for the sole respondent.
2. In this petition, under Section 482 of the Cr.P.C., the two petitioners have prayed for quashing of the order, dated 16.03.2020, and all subsequent orders, passed by the learned Chief Judicial Magistrate, Cachar, Silchar in N.I. Case No.39 of 2020. It is to be mentioned here that vide the impugned orders, the learned Court below has taken cognizance upon the complaint lodged by the respondent under Section 138 of the N.I. Act, and issued process against present petitioners.
3. The factual background, leading to filing of the present petition, is briefly stated as under:
Maintaining prosecution under section 138 of the NI Act requires arraigning the company as an accused, and the vicarious liability of individuals associated with the company is contingent upon the co....
The main legal point established in the judgment is the requirement for specific averments and unimpeachable evidence to establish vicarious liability of directors in cases of cheque bounce under Sec....
Specific averments are essential in a complaint to establish vicarious liability under Section 141 of the Negotiable Instruments Act; mere assertions are insufficient.
Vicarious liability of Directors under Section 138 NI Act depends on their actual role in the company's affairs, and strict interpretation of the provision is necessary.
(1) Dishonour of cheque – Offence by company – For fastening criminal liability, there is no legal requirement for complainant to show that accused partner of firm was aware about each and every tran....
The main legal point established in the judgment is the necessity of arraigning the company as an accused for maintaining the prosecution under Section 141 of the NI Act, and the requirement of speci....
Vicarious liability under Section 141 of the Negotiable Instruments Act requires specific allegations showing a person's responsibility for conduct of a company's affairs; mere involvement is insuffi....
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