The Supreme Court of India clarified that for maintaining the prosecution under Section 141 of the Negotiable Instruments Act, arraigning of a Company as an accused is imperative.
The Court also said the other categories of offenders like director or any other officer of the Company can only be brought in the dragnet on the touchstone of vicarious liability as the same has been stipulated in the provision itself.
Section 141 which deals with offences by Companies.
