Negotiable Instruments Act, 1881 – Ss. 141 and 138: Proceedings against non-executive independent Directors of accused Company, when Maintainable, principles clarified
Section 141 – Impleadment of all Directors of an Accused Company on the basis of a statement that they are in charge of and responsible for the conduct of the business of the company, without anything more, does not fulfil the requirements of Section 141 of the NI Act – Specific averments have to be […]