Chairman/MD not vicariously liable for criminal acts of company: SC

Ravindranatha Bajpe Vs Mangalore Special Economic Zone Ltd. & Others Etc. (Supreme Court) Learned Magistrate has to record his satisfaction about a prima facie case against the accused who are Managing Director, the Company Secretary and the Directors of the Company and the role played by them in their respective capacities which is sine qua non for initiating criminal proceedings against them. Looking to the averments and the allegations in the complaint, there are no specific allegations and/or averments with respect to role played by them in their capacity as Chairman, Managing Director...