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Dr. P.S. Pritam vs M/S. Morgan Securities & Credit Pvt. Ltd on 29 January, 2019 cites

Ashoke Mal Bafna vs M/S. Upper India Steel Mfg. And Engg. Co. ... on 15 November, 2016

(viii) Sonia Mittal Vs. Yogshri Chemicals Pvt. Ltd., Crl.M.C. 4213/2016 and Crl.M.A. 17541­17542/2016 Ld. counsel for the petitioners has also placed reliance on judgment titled as "Ashoke Mal Bafna Vs. Upper India Steel Manufacturing and Engineering Company Limited" (2018) 14 SCC 202. I have perused this judgment. In this judgment, it is held that " To fasten vicarious liability under Section 141 of the Act on a person, the law is well settled by this CR Nos. 580/18 & 528/18 11 of 15 07.01.2017 Court in a catena of cases that the complainant should specifically show as to how and in what manner the accused was responsible. Simply because a person is a Director of a defaulter Company, does not make him liable under the Act. Time and again, it has been asserted by this Court that only the person who was at the helm of affairs of the Company and in charge of and responsible for the conduct of the business at the time of commission of an offence will be liable for criminal action". As per this judgment, the petitioner has resigned as director with effect from 02.01.2006 and the fact of his resignation has been furnished by Form 32 to the Registrar of Companies on 24.03.2006 in conformity with the rules and the cheques were bounced on 24.08.2006.
Supreme Court - Daily Orders Cites 0 - Cited by 116 - Full Document

Standard Chartered Bank vs State Of Maharashtra And Ors. Etc. on 6 April, 2016

In this judgment, it is also held that "Learned counsel for respondents­ Complainant No. 2 has drawn attention of this Court to paragraphs no. 26, 31 and 32 of the decision in Standard Chartered Bank (Supra) to submit that in the complaints in question, there are allegations against petitioners being responsible for day to day functioning /business of accused­ company i.e. MIC Electronics Limited". In this judgment, it is also held that "Upon hearing and on perusal of the impugned complaints, summoning order and the decision cited, I find that CR Nos.
Supreme Court - Daily Orders Cites 31 - Cited by 199 - D Misra - Full Document
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