Cheques dishonoured issued by sister concern of debtor company to repay latter's outstanding dues to Bank - Complaint filed by Bank being 'holder in due course' against Directors of sister concern - Not maintainable in absence of specific allegation that said accused-directors were in charge of affairs of Company

Citation

2010 AIR SCW 4671

SUPREME COURT

(From : 2008 (1) All Cri LR 787 (Delhi))

ALTAMAS KABIR , J. and CYRIAC JOSEPH , J.

S.L.P. (Criminal) Nos. 5093 with 5094, 5095 and 5096 of 2008, D/- 6 - 7 - 2010

Central Bank of India v. Asian Global Ltd. and Ors

Negotiable Instruments Act (26 of 1881), S.141, S.118(E) - Dishonour of cheque - Offence by

Company - Liability of Directors - Cheques dishonoured issued by sister concern of debtor-

company to repay latter's outstanding dues to Bank - Complaint filed by Bank being 'holder

in due course' against Directors of sister concern - Not maintainable in absence of specific

allegation that said accused-directors were in charge of affairs of Company and responsible for

its action.

 (Para 15) 

Cases Referred Chronological Paras

AIR 2007 SC 1454 : 2007 AIR SCW 1880 : 2007 CLC 682

(Ref.)

11, 14

AIR 2005 SC 3512 : 2005 AIR SCW 4740 : 2005 Cri LJ 4140

: 2005 CLC 1382 (Ref.)

9, 11, 13, 14