Sahayata & Sahayata

Criminal liability of director of the company for dishonour of a cheque The Negotiable Instruments Act, 1881  deals with dishonour of a cheque and punishment relating to the dishonour of a cheque due to the insufficiency of funds, signature not matched or stop payment(provides under section 138 of the N.I. Act) . The director of the company also held liable for the offences 138 by them under sections per Section 141(1) of Negotiable Instruments Act, 1881  imposes criminal liability committed by a company and the director, manager or secretary in charge of the company.  Section 141(2) of Negotiable Instruments Act, 1881  imposes criminal liability, if the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager,  any other officer of the company.  Section 141 in The Negotiable Instruments Act, 1881 (1)  If the person committing an offence under section 138 is a ...

With the increase in the digital way of life, especially when it comes to Electronic financial transactions, the risk of financial frauds cannot be ignored. A fraudulent online transaction  in one's bank account, debit or credit card could be because of e-mail spoofing, phishing or it could have been an act committed by cloning one's card. OTP Fraud has become an easy way for  fraudsters  to make quick money. Lakhs of Indians have fallen prey to this fraud and lost crores of rupees. Even though government and banks have been alerting citizens not to provide bank details and One Time Passwords (OTPs), victims of OTP  frauds  are on the rise. If you read newspapers, there would be at least one such case a day. ATM skimming is a theft of card information, where a small device, known as a skimmer, is used to steal the information during a legitimate ATM transaction. As the card is swiped at the machine, the skimmer device captures the information stored on...