Research query
Personal liability of directors under Section 141 NI Act, absence of adjudication
Verified 25 judgements in 7.2s
SANKAR PADAM THAPA v. VIJAYKUMAR DINESHCHANDRA AGARWAL
Supreme Court of India
A Trust is not a 'legal entity' or 'juristic person' and cannot be sued. The complaint against the Trustee is maintainable without making the Trust an accused.
STATE OF MADRAS v. A.R. KRISHNAMURTHY
Supreme Court of India
Personal liability of non-executive directors cannot be fastened without specific averments as to the role played in the conduct of business.
Negotiable Instruments Act 1881, Section 141
Statute, Central
Every person who at the time the offence was committed was in charge of and responsible for the conduct of the business of the company shall be deemed to be guilty.
Verified answer · NyaI™
Director liability under s.141 requires specific averments of active role in company conduct. [2025 INSC 1210 ¶9]. Non-executive directors with no day-to-day management have consistently succeeded in quashing [2022 INSC 519].
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