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I was a director in Pvt ltd firm. During Directorship some PDC cheque given by other director who was authorized signatory, I was not authorized signatory. Those PDC got bounced after my resignation. what is my liability.
In case where a company's cheque is dishonoured, the following individuals are also considered responsible of the offense and may face legal action and punishment:
Everyone who was responsible for overseeing and managing the company's operations at the time the offense was committed; any director, manager, secretary, or other officer of the company whose approval or complicity allowed the section 138 offense to be committed; and
Any Director, Manager, Secretary or other company official whose carelessness caused the company to commit the section 138 offence. For further legal assistance contact us on our helpline number.