Offence u/s 409 of IPC unsustainable as company not a willful defaulter

CH K.S. Prasad @ K.S. Prasad Vs State of Karnataka (Karnataka High Court) Karnataka High Court held that in absence of any willful default on the part of the company, authorized signatory (vice-president) cannot be hauled into the web of crime for an offence under section 409 of the IPC. Facts- The petitioner claims to be an employee of M/s Vasan Healthcare Private Limited from 2012 up to 13-09-2017. During the said period, he was donned several rolls in the Establishment and was for some time Senior Vice-President, Human Resources and was also authorized to sign certain forms in connection wi...