Case Law Details
Case Name : Alibaba Nabibasha Vs Small farmers agri-busines Consortium & ORS (Delhi High Court)
Appeal Number : CRL. M.C. 1602/2020
Date of Judgement/Order : 23/09/2020
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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Alibaba Nabibasha Vs Small farmers agri-busines Consortium & ORS (Delhi High Court)
The Petitioner ceased to be the director of the respondent No. 2 with effect from 27th October 2010. The resignation of the petitioner was also notified to MCA.
The cheques, totaling to INR 45 Lakhs, were issued on 31st December 2018 by respondent No. 2. The respective cheques were dishonored, due to insufficient funds, vide memo dated 11th January 2019.
Held –
Person retired as the director of the company cannot be held liable for the day-to-day acts of the company. Provisions of section 141 of the NI Act not applicable to the director who was retired before the cheques were issued and dishonored.
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