Supreme Courtroom: The Supreme Courtroom has stated that an individual can’t be held responsible for a examine bounce merely as a result of that individual was a associate in that agency and had grow to be a guarantor for the mortgage. The Supreme Courtroom of the nation stated that underneath Part 141 of the NI Act, motion can’t be taken towards an individual merely as a result of the legal responsibility underneath the Partnership Act falls on the associate.
A division bench of Justice Ajay Rastogi and Justice Sanjiv Khanna stated that until the corporate or agency commits an offence, the legal responsibility underneath part 141 can’t be fastened. The courtroom stated, “Until the corporate or the agency has dedicated the offense because the prime accused, the individuals shall not be liable and shall not be held liable.
Greater than 33 lakh examine bounce instances in courtroom
The courtroom was deciding a petition difficult the conviction of the appellant on the bounce of a examine issued by a agency by which he was a participant. The examine was signed by one other associate. The agency was not made an accused within the grievance. Allow us to let you know that examine bounce is a giant drawback and greater than 33 lakh examine bounce instances are pending within the courts of the nation. Out of which 7.37 examine bounce instances have come to mild solely within the final 5 months. After which the courtroom has suggested the central and state governments to make such a scheme like mortgage waiver, by which instances of small quantity examine bounce might be exempted from authorized motion.
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