Court Rules Independent, Non-Executive Directors Are Not Liable Under Section 138 of the NI Act Without Specific Allegations: Delhi High Court
The High Court of Delhi has recently delivered a significant judgment regarding the liability of independent directors under the Negotiable Instruments Act, 1881 (NI Act). The court quashed several complaints filed against independent directors of a company, emphasizing the limits of their responsibility under Section 141 of the NI Act. Case Details: The petitions, numbered CRL.M.C. 3362/2024, CRL.M.C. 4859/2024, and CRL.M.C. 4862/2024, were filed by Mr. Sandip Vinodkumar Patel and…
