Does notice under section 138 of the Negotiable Instruments Act, 1882, need to be sent to directors of a company before a complaint can be filed against the company and its directors? Ruling in Kirshna Texport & Capital Markets Ltd v Ila Agrawal & Ors, the Supreme Court held that section 138 – which deals with dishonour of cheques – “does not admit of any necessity or scope for reading into it the requirement that the directors of the company in question must also be issued individual notices under section 138 of the act”.
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The dispute digest is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi. The authors can be contacted at lbhasin@bhasinco.in or lbhasin@gmail.com. Readers should not act on the basis of this information without seeking professional legal advice.
