The Delhi High Court has quashed a criminal complaint under Section 138 of the Negotiable Instruments Act, 1881, ruling that a director cannot be held liable for cheque dishonor if the company’s bank accounts were placed under the control of a Provisional Liquidator before the offence crystallized. Justice Vikas Mahajan held that the appointment of
Can a Director Be Liable Under Section 138 NI Act After Liquidation? Delhi High Court Rules on ‘Legal Impossibility’ and Account Maintenance
