Sec 141 NI Act | Merely Being a Director of the Company Not Sufficient to Make the Person Liable; Specific Pleading Against MD Not Required: Supreme Court

The Supreme Court on Monday ruled that merely being a director of the company is not sufficient to make the person liable. The bench of Justices Indira Banerjee and J.K. Maheshwari stated that “the laudable object of preventing bouncing of cheques and sustaining the credibility of commercial transactions, resulting in enactment of Sections 138 and

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