Supreme Court of India
K.S. Mehta v. M/s Morgan Securities and Credits Pvt. Ltd.
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
In view of the aforesaid observations, the Appellant(s) cannot be held vicariously liable under Section 141 of the NI Act.
Judgment, page 10
From the headnote
Issue for Consideration Whether the High Court was justified in dismissing the petitions filed under Section 482 CrPC for quashing of criminal proceedings. Headnotes† Code of Criminal Procedure, 1973 — Whether the High Court is justified in dismissing the petitions sought for the quashing of criminal proceedings initiated against the Appellant(s) under Section 138 read with Section 141 of the Negotiable Instruments Act, 1881 — Correctness: Held: The dispute stems from an Inter-Corporate Deposit (“ICD”) agreement executed between the accused company and the Respondent – Notedly, the Appellants
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