Former Directors cannot be prosecuted on Cheque issued to repay amount invested on term of their office: Karnataka HC [Read Judgment]

Cheque - issued - office - Karnataka - HC - TAXSCAN

The Karnataka High Court ruled that Any person who is not director of the company on the date of issuance of the cheque is not liable under Section 138 of the Negotiable Instruments Act. The petitioners in the present appeal are Sunita and Vidya. A private complaint is filed under Section 200 of the Code…

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