Delhi HC: Section 141 of The Negotiable Instrument Act Is Not Applicable To Directors Who Retired Before The Cheques Were Issued And Dishonored

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.

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