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Supreme Court of India

Standard Chartered Bank v. State of Maharashtra and Others Etc.

Neutral citation
Reported as [2016] 4 S.C.R. 288
Bench Dipak Misra and Shiva Kirti Singh JJ.
Decided 6 April 2016

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

We are of the considered opinion that the High Court has fallen into grave error by coming to the conclusion that there are no specific averments in the complaint for issuance of summons against the said accused persons.

Judgment, page 19

From the headnote

Negotiable Instruments Act, 1881 - ss. 138 and 141 - Complaint under - Against a company and its executive Director and Directors - Summons issued - Quashed by High Court in exercise of its power u/s 482 Cr.P. . - Held: s.141 creates a constructive liability on the person responsible for the conduct of the business of the accused-Company - In the present case, in view of the assertion in the complaint that the appellants-accused were in­ charge of day to day affairs of the Company, the summons issued were wrongly set aside by High Court - Magistrate directed to proceed with the complaint -

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