Legal validity of a complaint under Section 138 of Negotiable Instruments Act, 1881 (NI Act), filed by a Power of Attorney Holder on behalf of an Individual/ Proprietor – Naresh Potteries Vs. Aarti Industries and Anr. – Supreme Court
January 6, 2025
This judgment covers the following issues: A. Section 142 of the NI Act creates a legal bar on the court from taking cognizance of any offence punishable under Section 138 of the NI Act B. Who can file a complaint under Section 138 of NI Act, on behalf of an incorporated body C. The legal validity of a complaint u/s 138 of NI filed by the power of attorney holder of an incorporated body D. The power of attorney issued by the ‘payee’ who is an individual