A Director in charge leads while a Director responsible is accountable

A Director in charge leads while a Director responsible is accountable

Recently, the Supreme Court was seized of the question of what are the ingredients for an offence to be covered under Section 141 of the Negotiable Instruments Act, which pertains to dishonour of cheque by the company. The Court clarified that in order to incur liability, the accused person must have been in charge of and responsible for the business when the offense was committed.

Find Lawyers In Your City

Connect with Best Lawyers at your location