Crl.A. No. 001105 / 2025
K.S. MEHTA vs M/S MORGAN SECURITIES AND CREDITS PVT. LTD.
Status
DISPOSED
Judges
HON'BLE MRS. JUSTICE B.V. NAGARATHNA and HON'BLE MR. JUSTICE SATISH CHANDRA SHARMA
Order Date
04-03-2025
Citation
2025 INSC 315
Filed On
02-03-2024 11:04 AM
AI Summary
Non-executive directors cannot be fastened with vicarious liability under Section 141 of the Negotiable Instruments Act, 1881 absent specific averments in the complaint demonstrating their active charge of, and responsibility for, the company's business at the time of the offence; mere directorship or board meeting attendance is insufficient.