Section 138 NI Act Proceedings Not Maintainable on Cheque Issued After Company’s Dissolution: Karnataka High Court

The Karnataka High Court has ruled that criminal proceedings for cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881 cannot be maintained against a former director if the cheque was issued after the company was dissolved. Justice M. Nagaprasanna allowed the criminal petition filed by Rakesh Ramakanth, quashing the entire proceedings pending before

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