New Delhi, May 28 (IANS) The Supreme Court has held that office bearers of a society can face prosecution under the Negotiable Instruments Act (NI Act) if there is prima facie material showing their active participation in financial transactions linked to a dishonoured cheque.A bench of Justices Prashant Kumar Mishra and N.V. Anjaria partly allowed an appeal filed by M/s Mansi Finance (Chennai) Ltd. against a Madras High Court order which had quashed criminal proceedings against four office bear…
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