News and developments

Directors’ liability in cheque dishonour cases

In a recent landmark ruling, the Supreme Court of India delivered a crucial interpretation of vicarious liability under Section 141 of the Negotiable Instruments Act, 1881, (“NI Act”) in its judgment in Ashok Shewakramani & Ors. Vs. State Of Andhra Pradesh and Shanmuga Spinners[1] by which multiple criminal appeals were decided.

18 March 2024