Cheque bounce case and unlawful use of powers

Question

Cheque bounce case and unlawful use of powers

03-Aug-2024 (In Criminal Law)

We are two directors in a private limited company A is holding 99% shares and B holds 1% shares . A is the singing authority also. Now the case is A had taken loan from another company in the name of our company and also signed loan agreement without the knowledge of director B . He gave cheque of company for loan payment as security which got bounced and the other party registered the case against company and both the directors . Director A also made an email id of Director B and had emailed

Answers (5)

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Adv. Jitender Singh Adv. Jitender Singh

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Advocate Rajesh Kumar LawRato · Accepted Answer · 2024-08-03T08:56:56+05:30

Answer #2

you can get you name drop from this case and file criminal case agaist your partner for misuse of his authority and get your name dropped from high court but the case have to be secutiny properly for that you can contact me.

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Adv. Rajesh Kumar Adv. Rajesh Kumar

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Advocate Aman Verma LawRato · Accepted Answer · 2024-08-03T11:32:12+05:30

Answer #3

If the cheque has got bounced then you have to give reply under section 142(2) to all the things done by Director 1 to get yourself released from the liability. But to provide any correct guidance I need to understand the whole case.

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Advocate Akhilesh Kamle LawRato · Accepted Answer · 2024-08-03T11:56:09+05:30

Answer #4

has signing authority for your company and has signed loan Agreement and certain number of cheque and the same has been handed over to company which gave loan to your company. don't worry your name can be remove from the check bounce case for further information contact me

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Adv. Akhilesh Kamle Adv. Akhilesh Kamle

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Advocate Yuganshu Sharma LawRato · Accepted Answer · 2024-08-03T13:14:25+05:30

Answer #5

Dear querist, this is a clear cut case wherein you can filed for the discharge in the complaint case under section 138 ni act r/w section 141 fed against you in the capacity of the director. However, it is settled that once the magistrate took the cognizance and have issued summons, he can't recall it's own cognizance order. Therefore, the best and effective remedy for you will be to proceed and challenging the cognizance order before the Hon'ble High Court and seek the quashing of the order against you and the trial to only commence against the other director and seeking your ousting from the matter. There are settled precedents in your support as vicarious liability as alleged, can be challenge on the forefront of facts in hand.

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