Legal Question in Criminal Law in India
Negotiable Instruments Act.
When chq were issued nominee Directors where in the company.
But they resigned before chqs were deposited & bounced are they liable under NegotiableInstruments Act.
4 Answers from Attorneys
Re: Negotiable Instruments Act.
where they in charge of affairs of company or signatory if no they are not liable
Re: Negotiable Instruments Act.
The date of issuance of cheque is material You just examine whether on the date of issuance of cheque he was the holder of office of MD or not
Re: Negotiable Instruments Act.
Yes.
Re: Negotiable Instruments Act.
The signatories on the cheque are liable irrespective of the date of bouncing.
The signatory of cheque is liable for payment of the amount; and will suffer criminal liabilty u/s 138 for cheque bouncing.
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