Legal Question in Criminal Law in India

I was a director in a private limited company. The company borrowed a loan and I as director have signed the documents. I have also signed the PDC (company cheques). I have also signed the documents as co borrower.

I have resigned the company on 31/03/2010. The finance company has now filed a case under Sec 138 of NI Act in August 2011. I have informed the company some three months back that I have resigned the company in March 2010 and this was done through email.

Am I liable under Sec 138 Of NI act. If not what remedies do I have including taking up harrasment proceedings against the company.


Asked on 9/17/11, 3:21 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

You may be liable.

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Answered on 9/17/11, 9:34 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

your resignation may be a good defense in your case. you may go for quashing of the complaint against you.

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Answered on 9/18/11, 11:31 pm
Sanjay Kalra Sanjay Kalra & Associates

Yes as you were the Director at the time of the transaction and had sighed all these documents etc.

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Answered on 9/19/11, 1:06 am


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