PARESH P.RAJDA vs STATE OF MAHARASHTRA

The Supreme Court held that under Section 138 of the Negotiable Instruments Act, 1881, a director of a company can be held liable for dishonoured cheques if specific allegations of responsibility and involvement in the company's conduct are made against them, as per Section 141 of the Act. The Court found that the High Court's dismissal of the accused's petition was justified, as it was premature to determine liability without a trial. The appeal was dismissed, affirming the High Court's decision to allow the case to proceed to trial.