Director/Partner not liable for offences u/s 138 unless involved in day-to-day affairs of company /partnership firm

FEMA amp; BANKING INSURANCE : A person who merely appears to be a director of a company or partner of a partnership firm, cannot be fastened with criminal liability for an offence under section 138 of NI Act unless it is shown that he was involved in day-to-day affairs of company/partnership firm and was responsible to company/partnership firm

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