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Cheque bounce by CEO but non bailable warrant issued against MD
09-Mar-2023 (In Cheque Bounce Law)
In my company CEO is authorised signatory to all cheques and decision. I as director attend only board meeting. 2 years bank when CEO was abroad one vendor created dispute and took me to police station and forced me to call my accountant there. Then accountant gave cheque signed by CEO and police made me to sign paper of settlement as director. This cheque has bounced. After 2 years I received non bailable warrant from police to my house. Am I liable as a director? The case is put by vendor saying I am managing director, but actually I am only director who attends only board meetings, we have CEO as authorised signatory
Through court Summons you should appear and depend your case by showing all transactions of your company and who is having signing authority of all documents including cheque and also show if any agreement took between your company and vendor wherein any clause in shown
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Adv. Santosh R Kolkar
Belgaum | 100+ Answers
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