Negotiable Instruments Act, Directors Not Liable For Dishnor Of Cheque Issued By Company After Their Resignation : Supreme Court

New Delhi, February 16, 2024: In a significant ruling, the Supreme Court of India, in Criminal Appeal No. 2024 arising from Special Leave Petition (Crl.) No.6905 & 7050 of 2022, addressed the crucial question of whether a Director, who has resigned from their position and has the resignation duly recorded, can be held liable for negotiable instruments that fail to realize. Key Points: 1. Background: The appeal involved Rajesh Viren…