In a landmark judgment, the Supreme Court has reaffirmed the principle that an authorized signatory of a company cannot be held personally liable under Section 138 of the Negotiable Instruments Act, 1881 (NI Act), for a dishonored cheque unless the company itself is made a principal accused. The decision, delivered in Bijoy Kumar Moni vs.
Authorized Signatory Not Liable for Cheque Dishonour Under Section 138 NI Act Without Company as Principal Accused: Supreme Court
