09 April 2011
A promoter borrowed a loan on behalf of the company and sent a cheque from the company's a/c to discharge its legal liability.the cheque was dishonoured and a claim was lodged against him.The promoter is neither a director or person in charge. is he liable for an offence u/s 138?
09 April 2011
You did not mentioned that either that loan was taken before incorporation of company or post incorporation . That is very important in this question , better to provide detail about that we will come with the possible option.
CAclubindia
