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NI Act | Section 138 Proceedings Not Maintainable against Independent Non-Executive Directors
Case Law Details
- Case Name
- Sunita Palta & Ors. Vs Kit Marketing Pvt. Ltd. (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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Sunita Palta & Ors. Vs. Kit Marketing Pvt. Ltd. (Madras High Court)
Non-Executive Directors are, therefore, persons who are not involved in the day-to-day affairs of the running of the company and are not in charge of and not responsible for the conduct of the business of the company.’
Admittedly, the petitioners are neither the Managing Directors nor the Authorized Signatories of the accused company. The accused company and the Managing Director are arrayed as accused No.1 and 2 along with others in the complaint pending before the concerned Metropolitan Magistrate....
Very nice complialation of all judgement. It will great if you could provide guidance for NED to get relief if wrongfully implicated in case and hearing is already going on … Whether such director himself file some proof like Form 32 to prove himself NeD. Since it is very hardship and cost effective for out station person.