2 June 2016
The Division Bench of the Bombay High Court on 6-5-2016 has held that expression ‘suit or other proceedings’ in Section 446(1) under Chapter II of Part VII of Companies Act, 1956, does not include criminal complaints filed under Section 138 of the Negotiable Instruments Act, 1881. Submission that in view of Section 446(1), th...
31 July, 2015
The Supreme Court of India has ruled that under Section 138 of the Negotiable Instruments Act, 1881, it is the drawer of the cheque alone that attracts liability. It was held that therefore if the cheque is drawn by a director of the company in his individual capacity and not on behalf of the company or in his capacity as the director, the company a...
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