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Supreme Court of India

Hdfc Bank Limited v. State of Maharashtra and Anr.

Neutral citation
Reported as [2025] 5 S.C.R. 2162
Bench Manoj Misra and K.V. Viswanathan JJ.
Decided 22 May 2025

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 above discussion, our answers to the questions posed in the reference are as under: (a) It is necessary to specifically aver in a complaint under Section 141 that at the time the offence was committed, the person accused was in charge of, and responsible for the conduct of business of the company.

Judgment, page 15

From the headnote

Issue for Consideration Issue arose whether the High Court was justified in quashing the complaint insofar as respondent no.2-director of the company on the ground that necessary averments to invoke the vicarious liability against the respondent no.2 u/s.141 NI Act were lacking. Headnotes† Negotiable Instruments Act, 1881 – ss.141, 138 – Offence by companies – Vicarious liability – Necessary averments – Accused no.1 company along with respondent no.2 and other two directors approached the appellant-complainant for grant of credit facility for the working capital requirements – However, the

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