Tagged “non-executive-director”

Kamalkishor Taparia v. India Ener-Gen (2025): a non-executive director is not vicariously liable under Section 141 NI Act absent specific averments

The Supreme Court quashed cheque-dishonour proceedings against an independent non-executive director, holding that mere designation as a director does not attract Section 141 liability. Vicarious liability under the NI Act must be pleaded and proved with specific averments that the director was in charge of and responsible for the company's business.