KIRSHNA TEXPORT & CAPITAL MARKETS LTD. vs ILA A AGRAWAL .

The Supreme Court addressed the requirements under Section 138 of the Negotiable Instruments Act, 1881, emphasizing that individual notices must be served to each director of a company for them to be held liable for dishonor of a cheque. The Court upheld the acquittal of the directors, Ms. Ila A. Agrawal and Mr. Prafulla Ranadive, as the appellant failed to provide individual notices, which is a mandatory requirement. The appeal against the High Court's order rejecting leave to appeal was dismissed, affirming the lower court's ruling.