The Delhi High Court in the case of Alibaba Nabibasha v. Small Farmers Agri-Business Consortium & Ors. Held that a person who has retired as the director of the company cannot be held liable for the day to day acts of company and cheques issued and dishonoured post-retirement.
Delhi HC: Section 141 of The Negotiable Instrument Act Is Not Applicable To Directors Who Retired Before The Cheques Were Issued And Dishonored
