A Person Can’t be held Vicariously Liable U/s 141 NI Act For Merely Being partner in the Firm that took the Loan: SC

On Monday, the Supreme Court ruled that criminal liability for cheque bounce cases u.s 138 of NI (Negotiable Instruments Act can’t be fastened on a person just because he is a partner in a firm that took a loan or because the person was a guarantor for the loan. As per the Bench of Justices

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