In a significant ruling, the Supreme Court of India quashed criminal proceedings against two non-executive directors of M/s Blue Coast Hotels & Resorts Ltd., K.S. Mehta and Basant Kumar Goswami, in a case involving dishonored cheques under the Negotiable Instruments Act, 1881 (NI Act). The judgment, delivered by Justice B.V. Nagarathna and Justice Satish Chandra
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