Alleged Cheques Issued After Their Resignation: Kerala High Court Stays S 138 NI Act Proceedings Against Resigned Directors Of A Company

The Kerala High Court on Thursday granted a stay on proceedings against two additional directors of a Company who were facing prosecution under Section 138 of the Negotiable Instruments Act for dishonour of cheque. Justice P.V. Kunhikrishnan directed that there will be an interim stay of the proceedings against the petitioners as they have made out a prima facie case. “ After going through...